Total hunts for France shale partner
Total is looking for a partner to replace Devon Energy for its Montelimar shale-gas acreage in France. Devon pulled out of the project, a five-year exploration permit awarded in March 2010, at the end of January.
Total says it could sell up to a 50% stake in the project, which covers a 4,300 square-km area, but it will remain operator. The French major, which also has shale-gas acreage in Denmark and Argentina, is conducting a year-long study on Montelimar’s production potential.