Acquisition still subject to approval of country's oil minister
Total said this week it had acquired a 40 percent
stake in Yemen's Block 3 exploration licence, which the French major will
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.