Total grows keener on Mena

摘要

Total's expansion in the Middle East and north Africa (Mena) has gained momentum in recent weeks, following an acquisition in Libya and a successful bid to renew its participation offshore the UAE. The deals, worth a combined $1.9bn, are consistent with chief executive Patrick Pouyanne's strategic push to add "giant long-plateau, low-cost resources" to the company's portfolio. "The margins in this region are lower than in other parts of the world, but the cost of access is generally quite low, and the cost of production very low," Pouyanne says.