Total Becomes Largest Oil Producer to Invest in U.K. Shale
This article is for subscribers only.
Total SA became the largest oil company to enter the U.K.’s shale-gas industry through a $47 million investment in licenses in eastern England.
Europe’s third-biggest oil producer will buy a 40 percent stake in two exploration areas held by Dart Energy Ltd., Paris-based Total said today in a statement. IGas Energy Plc, which holds 14.5 percent of the permits, will become the operator.