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AFX UK (Focus): CVRD, Shell Brazil in natural gas exploitation deal for Espirito Santo state

Published: Sep 12, 2007

RIO DE JANEIRO (Thomson Financial) – Brazilian mining group Compagnie Vale do Rio Doce (CVRD) said it has signed an agreement with Royal Dutch Shell’s Brazilian unit under which the groups will study jointly exploiting natural gas blocks operated by Shell Brazil in the federal state of Espirito Santo in the southeast.

CVRD is looking at diversifying its energy sources, it said.

The cooperation could see the two groups teaming up to buying new exploration blocks that the government will seek tenders for in Nov 2008.

[email protected] afp/cm2/lam/jfr COPYRIGHT Copyright AFX News Limited 2007. All rights reserved.

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