Total Restructures Asset Portfolio; Scouts for UK Shale Licences

The enthusiasm for the UK shale gas gains ground as France's Total considers stepping in the nascent industry, bidding for rights to explore or buying stakes in existing exploration blocks, writes The Telegraph.

According to the British newspaper, the French company held talks with several companies holding licences in the UK.

"Total is understood to have held talks with Cuadrilla over buying into its licence but is now focusing on other opportunities."

At the same time, the French company is restructuring its assets portfolio. According to Reuters, Total and private equity firm Hellman & Friedman plan to sell their 30% stakes in GTT, engineering company focused on cargo containment systems (CCS) for LNG carriers and land storage of LNG.

Total recently acquired a 33% stake in Bokhtar Production Sharing Contract in Tajikistan from a subsidiary of Tethys Petroleum, an independent oil and gas company operating in Central Asia.