Total farms in to two blocks in Yemen

Total SA has signed a farm-in agreement with China Petroleum & Chemical Corp (Sinopec) for two onshore blocks in Yemen.

Eric Watkins
Senior Correspondent

LOS ANGELES, Dec. 7 -- Total SA has signed a farm-in agreement with China Petroleum & Chemical Corp (Sinopec) for two onshore blocks in Yemen.

Total will take a 40% stake in Block 69, located in the Marib basin and a 40% interest in Block 71, in the eastern Masilah basin.

Sinopec will maintain operatorship of both blocks with a 45.5% stake, while Yemen General Corp. for Oil & Gas will hold 10%, and the Arabian Group of Companies, the remaining 4.5%.

More in Exploration & Development