June 25 French oil major Total SA is
looking to buy rights to explore shale gas in Britain, the
Telegraph reported, without citing sources.
Total has held talks with several other energy companies to
acquire a stake in their existing exploration blocks in the
country, the report added.()
The Telegraph also said the company was in discussions with
British shale gas explorer Cuadrilla Resources over buying into
its licence but is now looking at other opportunities.
Total was not immediately available for comment outside
regular business hours.
Britain's bid to exploit shale-gas deposits was boosted
earlier this month as utility Centrica Plc, parent of
British Gas, bought a quarter stake in a major gas-bearing
formation in northern England, ahead of expanded drilling next
The country's energy ministry expects to update domestic
shale gas recovery estimates by the end of July, in what is
widely expected to be a major upgrade. But experts say only
exploration drilling can determine the extent of recoverable