Another blow to the Areva empire

The French oil company, Total, has opted not to invest in Areva after the French nuclear company lost a bid to build two new reactors in Abu Dhabi, United Arab Emirates. Total’s director general also questioned whether it was possible to make the EPR – Areva’s flagship new reactor – less expensive without compromising safety. “That’s the real question,” he told Reuters news agency. The UAE deal was considered a crown jewel for the struggling Areva whose EPR has been the subject of postponements and cancelations in major markets like the U.S. and China. South Korea won the UAE deal – said to be worth as much as $40 billion with four new reactors planned. It is believed that the recent joint statement by the Finnish, British and French nuclear safety bodies, asking that the EPR's control and safety systems should be changed to avoid both failing at once, contributed to the French loss of the UAE contract.