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NAM agrees to sell NOGAT pipeline assets to GDF SUEZ

Published Oct 2, 2008
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Nederlandse Aardolie Maatschappij BV (NAM) and GDF SUEZ have today signed Sales and Purchase Agreements for NAM assets situated along the NOGAT pipeline, covering exploration, production and transportation of oil and gas in the Dutch section of the North Sea.

This follows the earlier announcement on September 5th, 2008 of the commencement of exclusive negotiations between NAM and GDF.

The transaction, for a total consideration of 1,075 million euros, is subject to regulatory approvals and third party consents.

The transaction is expected to be completed at the turn of the year.