French power company GDF Suez (GSZ.FR) Thursday said it agreed to buy the 20% stake held by Brazilian mining giant Vale SA (VALE) in two natural gas exploration contracts in Brazil .

The acquisition is GDF Suez's first foray in gas exploration in Brazil , the company said. The area is located on shore in northeastern Brazil , in the Parnaiba basin.

GDF Suez joins a team made of BP PLC (BP) and state-controlled Brazilian firm Petrobras (PBR), which each own 40% in the venture.

The company didn't disclose the amount paid for the 20% stake.
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