2008-10-21-2008-10-17

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
MM
Description

To farm in to onshore exploration Block involving a 30.875% interest in 1,367 sq. km. in Yemen's Marib Basin.

Total, Paris, (Paris: FP; NYSE: TOT) plans to farm in to onshore exploration Block 70 in Yemen with Anyang, South Korea-based Korea National Oil Corp. (KNoc). The assets are in the Attaq area in the Shabwa governorate and consist of a 30.875% interest in 1,367-square kilometers in the Marib Basin. Pro forma, KNoc will have 30.875% interest and remains operator, Samsung Corp. 19%, Daesung Industrial Co. Ltd. 14.25% and Yemen General Corp. for Oil and Gas 5%. A well is presently being drilled. Total will increase its portfolio of exploration acreage in Yemen after recently acquiring interests in Blocks 69 and 71. Total is the operator of Block 10, East Shabwa and holds several other participations in oil E&P blocks.