Eric Watkins
Senior Correspondent
LOS ANGELES, Mar. 25 -- Yemen has approved oil exploration agreements with an international consortium led by Oil Search Ltd. for Block 7 in the Shabwa basin and Block 74 in the Masila basin.
The work program for both blocks during the initial 3-year exploration period will comprise reprocessing existing data, shooting 2D and 3D seismic surveys, and drilling at least seven exploration wells.
Participating interests in the Block 7 and 74 joint ventures include Oil Search (Yemen) Ltd. 34%, ARC Energy Holdings Ltd. 21.25%, Kufpec (Aden) Ltd. 21.25%, Yemen General Corp. for Oil & Gas 15%, and Adelphi Energy (Yemen) Ltd. 8.5%.
Contact Eric Watkins at [email protected].
