French oil and gas major Total SA (TOT) has increased its security
spending in the Middle East following a deadly attack in January on an Algerian
natural-gas plant that rekindled fears of raids on energy facilities across the
region, a senior executive said Wednesday.
Asked if the company has raised its security measures and spending in the
Middle East, Arnaud Breuillac, Total's president for Middle East exploration
and production, told Dow Jones Newswires that the company had done so and he
said "but it is not only about the money it's about the people, the risk,
and the work."
The firm is "taking extra care (now)," he said, but declined to say
how much it was investing on its security plans.
Last month, Total said it is planning to drill two exploration wells in
Libya
in
May, in a move that shows that recent security concerns haven't stopped
international companies from moving forward with their North African
oil-development plans.
The attack on an Algerian gas plant is forcing global oil giants to rethink
protection of oil fields in the
Middle East
and
Africa
, a
new reality that could potentially boost the cost of crude production. Major
oil companies have long been a target of kidnappings and low-level sabotage,
but the unprecedented scale of the
Algeria
attack will likely result in new levels of protection.
It took Algerian forces several days to retake the In Amenas plant, which is
jointly operated by Statoil, BP PLC (BP) and Algerian energy company Sonatrach.
Forty
people were killed.