Gaz de France Bolsters its Position in Mauritania
Gaz de France said that it has acquired a 13.5% interest in the Mauritanian offshore Block 8 from Wintershall. Subject to the approval of the relevant authorities, Gaz de France also will obtain a 17.5 % stake in the block from Dana Petroleum.
Gaz de France recently began operations in the area of exploration in Mauritania, where the potential reserves of natural gas could offer substantial long-term prospects. Under the terms of the agreements signed with Dana Petroleum, Gaz de France will own stakes in three offshore exploration blocks (blocks 1, 7, and 8).
On July 12, 2006, Gaz de France entered into a long-term partnership with Mauritania and signed a memorandum of understanding with the Mauritanian authorities. The agreement covers liquefied natural gas in Mauritania, the development of local electricity generation using natural gas, and a training program focused on activities related to natural gas.
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