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FINANCIAL NEWS
UAE is Total’s main market in ME
23 Apr 2013
(MENAFN) Total senior Vice President for the Middle East, exploration and production division, Arnaud Bereuillac, announced that the UAE is the company’s chief market in the Middle East, as the French energy giant is part of 8 national firms in the country, reported Gulf News.
Bereuillac said that Total has a 25-percent share in Dolphin Energy Limited, a joint venture between Qatar and the UAE.
He noted that the company is the operator of Total ABK, in which it has a stake of 75 percent, and owns 13.3 percent of Adma Opco concessions.
Furthermore, the French firm owns a 5-percent stake in Adgas, a 33.3-peercent stake in of Fertil, in addition to a stake of 9.5 percent in Adco, a 20-percent and a 15-percent stake in Shams and Gasco, respectively.
He added that Total owns a 20-percent stake in the investments in Taweelah A1 for power and water plants, where it will help produce 1.59MW of power capacity and 380 cubic kilometer of water capacity.
It is worth noting that Total has also inked new deals with Qatar, Yemen, Syria, Oman, Iran, Kuwait, Iraq and Saudi Arabia.
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