CFP-Total Signs Production-Sharing Agreement in East Shabwa

CFP-Total signed on 22 April a six-year production-sharing agreement with South Yemen covering an area of 16,000 sq. kms. in East Shabwa. Under the terms of the agreement, which will be implemented in two stages of three years each, CFP-Total has undertaken to spend a total of $80mn and to shoot a minimum of 4,000 kms. of seismic lines. It will also drill a total of seven wells during the term of the agreement.