Total farms into Yemen
Posted: 5 December 2007
Total has signed an agreement with Sinopec to farm into two onshore exploration blocks in Yemen with an interest of 40 per cent.
The agreement was recently approved by the Yemeni government.
Block 69, which covers an area of 1,333 square kilometres, is located in central Yemen’s Marib Basin, which is home to the reserves that feed the Yemen LNG liquefied natural gas project.
Block 71, which extends over an area of around 1,800 square kilometres, is located in eastern Yemen’s Masilah Basin, near Block 10, which Total has operated for 20 years.
The two blocks had been held by Sinopec in partnership with state-owned Yemen General Corporation for Oil and Gas (YOGC) since 2005.
Following the farm-in, Total has a 40 per cent interest in the blocks, alongside Sinopec (45.5 per cent, operator), YOGC (10 per cent) and the Arabian Group of Companies (4.5 per cent).
A well is being drilled in Block 69, and 2D seismic has been shot on both blocks.
Total, Yemen’s leading foreign investor, strengthens its operations in the country with its entry into these two blocks.
It represents a good fit with its existing projects, including notably the development of recent discoveries in Block 10.
Posted by Richard Price, Editor, EnergyME.com
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