GDF SUEZ
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Address
23, rue Philibert Delorme
75840 PARIS Cedex 17
Web http://www.gdfsuez.com
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Capex
Future Plans
Gaz de France has an objective to own 1,000 million boe of proved and probable reserves. The ongoing rise in the price of oil makes production assets more expensive and justifies a sustained exploration development strategy.
The Group's other strategic focus is the concentration of investments and efforts on several large fields with high profitability. Eventually, the Touat field in the south of Algeria, for which the Group has had an exploration and production license with Sonatrach since 2002, is expected to produce a significant quantity of gas. The Gjoa and Snøhvit fields in Norway and the LNG operations in Mauritania count among the major projects the Group has also decided to focus on.
Production
Total production reached 42.4 Mboe in 2007 as compared to 45.2 Mboe4 in 2006. On a comparable basis, total production shrank slightly, down 3%.
The increase in production witnessed in the last quarter of 2007, with the commissioning of new fields in Norway, the United Kingdom and the Netherlands, will have a full impact in 2008, with production levels near 50 million boe, compared to 42.4 million boe in 2007.
Reserves
As at 31 December 2007, proven and probable reserves (2P) amounted to 667 million boe, compared to 685 million boe in 2006. This figure includes 24 million boe in discoveries, extensions, net acquisitions and revisions in reserves made in 2007, but does not, however, account for the reserves at Touat (Algeria) which are expected to be included in 2008.
Who's Who
Jean-François Cirelli
Chairman and Chief Executive Officer
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Offices
France
Head Office
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United Kingdom
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Norway
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Netherlands
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