Total, Shell Launch $2B Italian Oil, Gas Project

Law360, New York (July 25, 2012, 2:03 PM EDT) -- French oil and gas giant Total SA, along with Royal Dutch Shell PLC, has launched a nearly $2 billion development of the Tempa Rossa oil and gas field in southern Italy, a project that could boost Italy's oil production by as much as 40 percent, Total announced Wednesday.

The Paris-based energy exploration and production firm said in a statement that it "has made the final investment decision" for Tempa Rossa, located in the Basilicata region of southern Italy. The project is 75 percent-owned by Total, with...
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