Total to invest in Yemen block
02-09-08 The General Manager of Total E&P Yemen, Mr Martin Deffontaines, revealed the company's intention to invest $ 1 bn to develop the oil block No. 10 in Shabwa province.
Mr Martin said that the company plans to increase the oil production from the block to 60,000 bpd in 2009.
He explained that the company has shares in the blocks No. 5-69-71 as well as the largest share in the Yemen LNG Company by ratio of 39.62 %.
The company signed a partnership agreement with Yemen to produce oil in April 1987.
Source: http://www.kuna.net.kw