Block 82, Yemen

Type of Contract : Production Sharing Agreement (PSA)
Areas (Km2) : Block 82 : 1, 853
Contract Expiry : 2040 (Total exploration and production years)
Participacing Interest : Medco Yemen Amed Ltd & Medco Yemen Arat Ltd. - 38.25% (Operator)
Kuwait Energy - 21.25%
Indian Oil Corporation - 12.75%
Oil India Limited - 12.75%
YOGC - 15%
Status : Exploration

The Company was awarded Blocks 82 and 83 after winning the International Bid held by the Ministry of Oil and Minerals of the Republic of Yemen through the Petroleum Exploration and Production Authority in December 2006.

MedcoEnergi and partners, Kuwait Energy Co., Indian Oil Corporation Ltd., Oil India Ltd. and Yemen Oil & Gas Corporation, signed a Petroleum Sharing Agreement (PSA) in 2008.

By year-end 2012, the Company had completed data acquisition on 2D & 3D data (2D seismic along 349.90 km and 3D seismic over an area of 248.06 km2). Based on currently available seismic data that is supported by the Meshat-1 well, the Company has evaluated the potential of this block and identified five leads. Sub-surface data on the PSTM formation is in the process of interpretation.

Further plans in 2014, the Company will focus on renewing the sub-surface mapping and the oil formation development concept by elaborating well data from the surrounding areas of the block.

Block 9 Malik, Yemen

Type of Contract : Production Sharing Agreement (PSA)
Areas (Km2) : 4,728
Contract Expiry : 2030
Participacing Interest : Calvalley Petroleum (Cyprus) Ltd - 42.50%
Medco Yemen Malik, Ltd. - 21.25%
Hood Oil Limited - 21.25%
YOGC - 15%
Status : Production