GDF Suez acquires interest at Eni-operated block

French-based energy firm GDF SUEZ announced on Wednesday to have finalised the acquisition from Italian firm Eni SpA of a 45% stake in the offshore exploration Muara Bakau PSC offshore East Kalimantan.

Eni is maintaining its position as operator with a 55% stake.

This acquisition is within the framework of the asset swap agreement signed between GDF SUEZ and Eni in 2008. This agreement includes the disposal by Eni of a group of exploration-production assets in the United Kingdom, the Gulf of Mexico, Egypt and Indonesia.

The Muara Bakau PSC covers an area of 1,082 km? and is in the eastern part of the Kutei basin, off the Mahakam delta, in water depths ranging from less than 200 to approximately 1,000 m.

An initial exploration campaign was successfully carried out in March 2009. The drilling of a well on the Jangkrik geological area confirmed the presence of a significant volume of hydrocarbons, demonstrating the exploration potential of this contract, the company said. (denny).