M&A Activity • May 4, 2010
M&A Activity
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GDF SUEZ has completed the acquisition from Ieoc, an Eni affiliate in Egypt, of a 50% stake in the Ashrafi offshore oil licence located in the South West of Gulf of Suez. Ieoc holds the remaining 50% interest in this licence.
The production phase of the Ashrafi field began in 1992 and 11 wells are still producing approximately 4,800 barrels per day. The license covers an area of 124 sq.km, with a reservoir depth ranging between 1,500 and 2,000 m.
Following a recent gas discovery on the West El Burullus concession, this new acquisition confirms GDF SUEZ's long term involvement in exploration-production in Egypt and its ambition to build up a balanced portfolio, based on exploration and producing assets.
With West El Burullus, North Damietta and Alam El Shawish, this fourth license reinforces the development strategy of the Group in Egypt and broadens its cooperation with other Egyptian partners.
One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. It develops its businesses (energy, energy services and environment) around a responsible-growth model to take up the great challenges: responding to energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 200,650 persons worldwide and achieved revenues of €79.9 billion in 2009. GDF SUEZ is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
Tel France: +33 (0)1 57 04 24 35 Tel Belgium: +32 2 510 76 70 E-Mail: [email protected] Investor Relations contact: Tel: +33 (0)1 57 04 66 29 E-Mail: [email protected]
GDF SUEZ CORPORATE HEADQUARTERS 22, rue du Docteur Lancereaux - 75392 Paris Cedex 08 - France Tel. +33 (0)1 57 04 00 00 GDF SUEZ - SA AU CAPITAL 2,260,976,267 EUROS - RCS PARIS 542 107 651 www.gdfsuez.com
May 4, 2010
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