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Total to drill for shale gas in UK as government sweetens incentives

2:52 AM MST | January 13, 2014 | Natasha Alperowicz

Energy giant Total said today that it has acquired a 40% interest in two shale gas exploration licenses in the United Kingdom, making it the first oil major to enter shale gas licenses in the country. The interests are in Petroleum Exploration & Development licenses 139 and 140 in the Gainsborough Trough area of the East Midlands region, which covers an area of 240 sq kilometres. The move follows an announcement by the UK government of increased incentives to encourage development of the industry. Local councils in the UK will be able to keep all...

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