Total acquires 40% interest in Yemen Block 3 license from Oil Search, set to operate

06 March 2012

Total has announced this is has acquired a 40% interest in the Block exploration license in Yemen, held by Oil Search, which it will operate. The license covers an area of 2,954 sqkm in the eastern section of the Marib Basin. The acquisition is subject to the approval of Yemen's Ministry of Oil and Mineral Resources. Total's Yemen production grew to 86,000 barrels of oil equivalent per day in 2011 and are also the main shareholder in Yemen LNG (39.62%), with a liquefaction plant in Balhaf on the southern coast.

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