Seeking Alpha

Total gets rights to explore Russian shale oil

  • Total (TOT) reportedly has secured the rights to explore three hard-to-recover oil blocks in western Siberia, joining Exxon, Statoil and Royal Dutch Shell to develop Russian shale oil.
  • Interfax news agency says a TOT subsidiary received the licenses for the Vostochno-Kovensky, Tashinsky and Lyaminsky-3 blocks in Khanty-Manssiisk district, Russia's main oil producing region.
  • TOT also has signed a memorandum to develop shale oil in Russia with Russia's no. 2 oil producer Lukoil.
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