Total has signed an agreement with Sinopec to farm into two onshore exploration blocks in Yemen with an interest of 40%. The agreement was recently approved by the Yemeni government.
The two blocks had been held by Sinopec in partnership with state-owned Yemen General Corporation for Oil and Gas (YOGC) since 2005.
Block 69, which covers an area of 1,333 square kilometers, is located in central Yemen’s Marib Basin, which is home to the reserves that feed the Yemen liquefied natural gas (LNG) project. Block 71, which extends over an area of around 1,800 square kilometers, is located in eastern Yemen’s Masilah Basin, near Block 10, which Total has operated for 20 years.
Following the farm-in, Total has a 40% interest in the blocks, alongside Sinopec (45.5%, operator), YOGC (10%) and the Arabian Group of Companies (4.5%). 2D seismic has been shot on both blocks and a well is being drilled in Block 69.