Eni Buys GDF Suez Stakes in N. Sea Fields
Eni and GDF Suez have signed an agreement for the company to obtain a 22.5% shareholding of GDF Suez in EFOG, a joint-venture between GDF Suez and Total E&P UK Ltd, which holds a 46.2% stake in the Elgin/Franklin fields.
Through this acquisition, Eni will gain a 10.4% indirect participation in the Elgin/Franklin gas condensate fields. Eni currently holds a 21.8% interest in the project.
Located in the Central Graben area of the UK North Sea about 149 miles (240 kilometers) east of Aberdeen, the Elgin and Franklin fields are 4 miles (6 kilometers) away from each other in waters measuring 305 feet (93 meters).SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
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Company: GDF Suez more info
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