French energy giant GDF Suez said Friday it is in exclusive talks with Dutch oil company NAM to acquire oil and gas assets in the North Sea for euro1.075 billion (US$1.56 billion).
The acquisition is a step toward achieving GDF Suez's medium-term objective of lifting its proven and probable reserves to 1.5 billion barrels of oil equivalent, Executive Vice President for Global Gas Jean-Marie Dauger said in a statement.
The acquisition would make GDF Suez the largest exploration and production operator in the Dutch sector of the North Sea, Dauger said.
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