Middle East Economic Survey


No 26



GDF Suez Takes 20% Interest In Absheron DPSA

GDF Suez announced on 29 June that it has acquired a 20% stake in the development and production sharing agreement (DPSA) for the Absheron block offshore Azerbaijan. GDF Suez bought its equity from license operator Total, which reduced its interest to 40% while state firm Socar retains 40%. Socar has estimated that drilling prospects on the block have the potential to hold gas reserves of 300...