Total joins ExxonMobil to explore Poland shale gas
US-based ExxonMobil and French oil major Total signed an agreement to jointly explore shale gas in the Chelm and Werbkowice areas in Poland.
ExxonMobil will hold a 51% interest in the partnership, while Total will take the remaining 49%, the company said. The deal is subject to approval from Poland authorities.
Total said the agreement underscores its commitment to expanding its activities in unconventional gas, notably in Europe.
Polish authorities awarded the exploration rights for Chelm and Werbkowice for five years in March 2009 and December 2008, respectively, Total said.
The work program for each concession includes the acquisition of seismic data, drilling of an exploratory well and a production test if drilling results are encouraging, the company said.
ExxonMobil has already performed seismic acquisition works as well as drilling an exploratory well in the Chelm region.
Financial details were not released.
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