SOUTH YEMEN
Elf Aquitaine Acquires Stake in IPG Concession
Elf Aquitaine has purchased a 35% share in the onshore/offshore 18,500 sq. km. concession in the Balhaf bloc, east of Aden, held by the Independent Petroleum Group (IPG). Under the agreement, signed on 14 June, Elf Aquitaine becomes the operator and an exploration well is to be drilled onshore in mid-October. IPG, a private Kuwaiti petroleum company established in 1976, acquired the Balhaf concession in June 1983 on a...
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