GDF Suez Takes ExxonMobil's Stake Offshore Norway

GDF Suez has acquired an additional 20% stake from ExxonMobil in the Njord field and the Noatun discovery, both located offshore Norway. The consortium now consists of GDF Suez holding a 40% interest, alongside Statoil (operator, 20%), E.ON Ruhrgas (30%), Faroe Petroleum (7.5%) and VNG (2.5%).

GDF stated the Northwest Flank, part of the Njord license, is being drilled from Njord whilst the fast-track development Hyme is being connected to and processed at the Njord facilities. Njord, currently being redeveloped to extend the life of the field, and its recovery rate, will recommence in 2013.  

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