psc - Kufpec

Al Barqa Block-7
(KUFPEC: 20.25%)
This onshore exploration permit covers 4,939
km² and was ratified by the Yemen Parliament
on 8 March 2008 for an initial 3-year exploration
period. Two drillable prospects were
identified on the basis of recently acquired 3D
seismic. The Al Meashar-1 well was drilled and
tested between 200-900 boepd from fractured
basement and the well was suspended. The
Jabal Milh-1 well was drilled in the northern
part of the block but was suspended with oil
shows in basement. The third exploratory well
Al Meashar-2 was drilled to confirm the productivity
of the Al Meashar-1 but failed to produce.
The block will expire in March 2011 and
the Joint Venture Partners agreed to apply for
an extension of 12 months in first exploration
period.
Quzah Block-74
(KUFPEC: 21.25%)
Block 74 was provisionally awarded in July 2005
and was ratified by Yemeni Parliament on 8
March 2008. This onshore exploration permit
covers an area of 1,309 km². In 2010, 276 kms
of 2D seismic was recorded and processing
is expected to be completed by end January
2011. The block will expire in March 2011 and
the Joint Venture Partners agreed to apply for
a 9-month extension in the first exploration period
to fulfill the remaining commitment.
Mukalla Block-15
(KUFPEC: 45%)
KUFPEC secured an additional 18 month extension
effective from 14 November 2009. Geo-
logical studies continued to fully evaluate the
prospectivity of this block.
SYRIA
Syria Block-17
(KUFPEC: 33.33%)
The Al Tayr-1 exploration well was plugged & abandoned as dry hole and the block was relinquished in
2010.
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