French oil major Total SA (TOT) said Friday it agreed with
U.S.
oil
firm Exxon Mobil Corp. (XOM) to seek shale gas in the Chelm and Werbkowice
areas in
Poland
.
Total will hold a 49% stake in the partnership and ExxonMobil will own the remainder,
Total said in a statement.
The project demonstrates Total's committment to expanding its activities in
unconventional gas, notably in
Europe
, the
French company said.
The Polish authorities granted the rights to explore Chelm and Werbkowice for
five years in March 2009 and December 2008, respectively. The program for the
concessions includes acquisitions of seismic data, drilling of an exploratory
well and production test if the drilling is encouraging.
Total
didn't disclose any financial details of the deal.