Total farms into Yemen's onshore blocks with Sinopec
Total SA gained a 40% interest in two onshore exploration blocks in Yemen under a farmin agreement signed with Sinopec.
LONDON, Dec. 7 -- Total SA gained a 40% interest in two onshore exploration blocks in Yemen under a farmin agreement signed with Sinopec.
An exploration well is being drilled on block 69 following the acquisition of 2D seismic. The block spans 1,333 sq km and is in central Yemen's Marib basin, from which gas is directed to the Yemen LNG plant. Block 71, which is 1,800 sq km, is in eastern Yemen's Masilah basin, near Block 10, which Total has operated for 20 years. The partners have acquired 2D seismic for block 71 as well.
Total will work with operator Sinopec (45.5%), state-owned Yemen General Corp. for Oil & Gas (10%), and the Arabian Group of Cos. (4.5%). Workers have shot 2D seismic on both blocks, and a well is being drilled on Block 69.
Total said the blocks "represent a good fit with its existing projects, including notably the development of recent discoveries in Block 10."
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