With output elsewhere in the region largely stagnant, Total is increasingly dependent on Abu Dhabi for its regional liquids output. At 274,000 b/d in 2015, Abu Dhabi provided more than 20% of Total’s global liquids production and a staggering 74% of its MENA output (MEES, 25 March).
But the dependency is mutual. With Total the only major to have so far signed up to a new concession agreement for Abu Dhabi’s onshore fields, its technological expertise is essential if planned...