Total has become the latest oil major to tap into shale oil in West Siberia, after securing the rights to explore three hard-to-recover blocks in the region.
Total received licenses for the Vostochno-Kovensky, Tashinsky and Lyaminsky-3 blocks in Khanty-Manssiisk district, Russia’s main oil producing region, according to Interfax.
The French firm will join ExxonMobil, Statoil and Shell in the exploration of the Siberian shale oil, believed to be the world’s largest resource, with estimates of 75billion barrels in place.