GDF Suez acquires 20% in the Njord and Noatun fields from ExxonMobil
GDF Suez is to acquire ExxonMobil's 20% interest in the Statoil-operated Njord Area and the Noatun discovery in Norway. No purchase price has been disclosed. We value the acquired interests at US$216 million (NPV10, discounted to 1 January 2011). However, this does not attribute any commercial value to Noatun, which we currently class as a technical resource. The development of Noatun (a tie-back to Njord is being considered) represents a potential upside to our valuation.The ...