The French energy giant acquired six onshore blocks in the mature Reconcavo basin during the 12th oil and gas licensing round held last November, and recently grabbed stakes at two onshore permits in the gas-prone Parnaiba basin.
“We saw an opportunity to expand our footprint in Brazil. Our idea, provided we find gas in our blocks, is to develop our gas-fueled thermoelectric projects by monetising the commodity,” says GDF Suez Brazil chief executive Mauricio Bahr.
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