French oil major Total SA (NYSE: TOT) has entered into an agreement with ExxonMobil, Irving, Texas, (NYSE: XOM) to farm into the Chelm and Werbkowice exploration concessions with a 49% interest, subject to the approval of the Polish authorities.

Under the terms of the agreement, ExxonMobil and Total will form a partnership operated by ExxonMobil, which retains a 51% interest.

The entry into these concessions reflects Total's commitment to expanding activities in unconventional gas, notably in Europe, a growth segment of the group.

Awarded for a period of five years ...