(MENAFN) France-based Total announced its purchase of a 40 percent stake in two licenses in the Gainsborough Trough area of northern England, becoming the first oil and gas firm to reach a shale exploration deal in Britain, The Peninsula Qatar reported
Total's buy in into British shale gas will lead the country to become one of Europe's strongest prospects for unconventional oil and gas resources development
A partner at Epi-V, an investor in oil and gas services said: "We expect further international energy companies to follow the lead taken by Total and ramp up their plans for signing 'farm-in' agreements with UK firms that already have licences to explore UK shale reserves.
Shale gas resources in Britain are estimated at more than 400 times of the country's annual consumption of gas
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