SHARE
(Image courtesy of Total)

Total has announced the acquisition of a 40% interest in two shale gas exploration licenses in the UK.

The assets 139 and 140 of the Petroleum Exploration & Development Licenses located in the Gainsborough Trough area of the East Midlands region of the UK.

The interest covers an area of 240 km/sq.

Patrice de Viviès, Total’s Senior Vice President for Northern Europe, said, “This opportunity is an important milestone for Total E&P UK and opens a new chapter for the subsidiary in a promising onshore play. The Group is already involved in shale gas projects in the US, Argentina, China, Australia and in Europe in Poland and in Denmark, and will leverage its expertise in this new venture in the UK.”

Other partners are GP Energy Limited (a subsidiary of Dart Energy Europe) (17.5%), Egdon Resources UK Ltd (14.5%), Island Gas Ltd (14.5%), and eCorp Oil & Gas UK Ltd (13.5%).