Mauritania, Gaz de France agree on cooperation

Offshore staff

(Nouakchott) -- Mauritania and Gaz de France signed a memorandum of understanding regarding "wide-ranging cooperation in the energy industry," including stakes in three offshore exploration blocks.

Included in the MOU is an LNG feasibility study for a facility in Mauritania.

Gaz de France began exploration in Mauritania in 2005. Under terms of an agreement with Dana Petroleum, subject to the official approval of authorities, Gaz de France will own stakes in three offshore exploration blocks (24% of block 1; 27.85% of block 7, and 17.5% of block 8).

Mohamed Ali Ould Sidi Mohamed, minister of energy and oil for Mauritania, and Jean-Francois Cirelli, chairman and CEO of Gaz de France were the signatories.

7/14/06