GDF Suez To Hold 8%, Total To Hold 17% Of Khvanlinskoye Devt
October 06 2009 - 6:17AM
Dow Jones News
French utility GDF Suez (GSZ.FR) Tuesday said it has signed, in
partnership with oil major Total SA (TOT), a heads of agreement to
acquire half of KazMunaiGas' 50% stake in the Caspian Sea
Khvalinskoye exploration license.
"This exclusive negotiation phase, subject to relevant partners'
and authorities' approvals, will allow GDF Suez and Total to obtain
respectively 8% and 17% in the Khvalinskoye development," GDF Suez
said.
A spokeswoman for GDF Suez declined to say how much the
companies would pay for the stake.
Russia's Lukoil (LKOH.RS) operates the Russian-Kazakh project,
in which it has 50%.
-By Adam Mitchell, Dow Jones Newswires, +33 1 40171756;
adam.mitchell@dowjones.com