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Australian Associated Press on Monday reported that the two-stage production sharing deal involves blocks 7 and 74 in Yemen’s southeast.
Oil Search’s partners in the consortium include Australian company Voyager Energy and state-owned Kuwait Foreign Petroleum Exploration.
Oil Search currently operates two concession areas in Yemen and has an interest in one non-operated concession area.
It has also been awarded interests in three new areas, which are awaiting ratification from the Yemeni Government. Two of these blocks were obtained through the 2005 International Bid Round and one negotiated directly with the Yemeni Government.
Oil Search will operate all of these new blocks.
The company recently farmed-in to a further block, taking its interests in Yemen to seven blocks.
Yemen produces about 400,000 barrels per day of crude.
