Total and Royal Dutch/Shell signed an agreement with the Government of the Kingdom of Saudi Arabia to form a joint venture with the national oil company Saudi Aramco for the exploration of gas in an area of 200,000 km² in the southern part of the Rub Al-Khali.
Total, with a 30 % interest, is partnered with Saudi Aramco (30 %) and Shell (40 %), leader of the joint venture.
"Total is pleased to have signed this new agreement to enter Saudi Arabia and to be associated for the first time with Saudi Aramco, the largest producer and exporter of oil in the world. This agreement constitutes an important step in Total's strategy in the Middle-East", says Christophe de Margerie, Total Executive Vice President, President of Exploration and Production. |