25 Jun 2010 14:46

CORRECTED: Gazprom Neft signs Equatorial Guinea shelf deal, could invest $3 bln

(third para adjusted)

MOSCOW. June 25 (Interfax) - Gazprom Neft , GEPetrol and Equatorial Guinea's Mining, Industry and Energy Ministry have signed an agreement to develop the African country's shelf, Gazprom Neft chief Alexander Dyukov told reporters.

The companies plan to explore and develop the T and U blocks, which have combined reserves of approximately 110 million tonnes, on production-sharing terms.

Dyukov said Gazprom Neft could invest approximately $3 billion in Equatorial Guinea projects in 30-35 years.