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Tue 6 Mar 2012 09:52 AM

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Total buys 40% stake in Yemeni oil licence

Acquisition still subject to approval of country's oil minister

Total buys 40% stake in Yemeni oil licence
Totals production capacity in Yemen reached 86,000 barrels of oil equivalent per day in 2011.

Total said this week it had acquired a 40 percent
stake in Yemen's Block 3 exploration licence, which the French major will
operate.

The acquisition of the licence, which covers an area
of 2,954 sqm in the eastern section of the Marib Basin, is still subject
to the approval of Yemen's minister of Oil and Mineral Resources.

Total's partners will be Austria's OMV, Czech MND and
state-owned Yemen General Corporation for Oil and Gas (YGC).

Total's production capacity in Yemen reached 86,000
barrels of oil equivalent per day in 2011.

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