Total is to take a 40% stake in two onshore blocks in Yemen operated by China’s Sinopec, the French giant said today.
Total said in a statement the deal included stakes in Block 69, which covers 1333 square kilometres in the central Marib basin, as well as Block 71, which covers 1800 square kilometres on the eastern Masilah basin.
The deal was recently approved by the Yemeni government.
Block 71 lies close to Total’s Block 10, which it has operated for more than 20 years, it said.
Sinopec has operated the blocks with the state-owned Yemen General Corporation for Oil & Gas (YOGC) since 2005.
Following the farm-in, Sinopec will continue to operate the blocks with a 45.5% stake, while Total will hold 40% stakes, along with YOGC (10%) and the Arabian Group of Companies (4.5%).
Total said 2D seismic work had been carried out on both blocks and a well was being drilled on Block 69.

(Upstream Online)