ExxonMobil is looking at the Mena region as a potential growth area, with a number of countries in the region sitting on under-utilized resources. Whether it be Egypt, Libya, Algeria or Iraq, Exxon is looking at whether it can use its scale and technological knowhow to unlock new value. Some of these opportunities may ultimately not pan out, but the region is back in focus for the US giant.
Despite their vast resource bases, a number of Mena producers have struggled to attract foreign investment in recent years, with some even suffering an exodus of IOCs amid concerns over the competitiveness of their offerings. (CONTINUED – 1162 WORDS)
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