Paris: French oil giant Total announced on Monday that it will become the first major oil company to explore for shale gas in Britain, confirming a report in The Financial Times.
Total acquired a stake of 40 per cent in two licences to explore and produce shale gas in the Gainsborough Trough in central England, where licences cover an area of 240 square kilometres, the firm said in a statement.
The Financial Times had reported on Saturday that Total would announce the deal in which Singapore-based Dart Energy and UK-listed Igas and Edgdon resources are also partners in the project.
Total would be the second French company to invest in British shale after gas giant GDF Suez announced an exploration deal on October 22.
The GDF Suez deal also involved Dart Energy.
Britain has said it wants to make the most of opportunities offered by the extraction of shale gas, in contrast to France where exploration is banned.
