Total E&P

Topics: Petroleum, Yemen LNG, Economy Pages: 1 (383 words) Published: December 14, 2012
1.2 Total E&P
The relationship between TOTAL and Yemen dates back to 1930s. TOTAL has, therefore, been in Yemen for 6 decades in the southern and eastern regions of the country where the company conducted promising primary exploratory and geological operations. Total E&P Yemen (TEPY), the leading foreign investor in Yemen, signed the Production Sharing Agreement with the Ministry of Oil and Minerals on April 22, 1987 to develop Block 10 in East Shabwa. In 1992, oil was discovered in Block 10 (Kharir field). Situated in the heart of Hadhramout, Kharir field’s production started in 1997 and in March 2008, TEPY celebrated the production of 100 million barrels from Block 10. Currently, TEPY has increased the block’s production capacity to around 50,000 barrels per day. When development of Block 10 was launched in 1996, the recoverable reserves on the three fields: Kharir, Atuf, and Wadi Taribah were estimated at 50 million barrels. Total E&P Yemen and its partners have now reached a milestone of a cumulative production of 100 million barrels, or twice the initial estimated recoverable reserves. Sixteen percent of the total production is the share of TEPY, which is sold to mother company that in turns refine it and resell to international clients. TEPY has other operations and partnerships in other fields in Yemen which are operated by other companies. For instance, TEPY has a daily share of 4000 oil barrels per day from Block 5, operated by Jinnah Hunt Company.

In Block 10, being operated by TEPY for instance, development and production are carried out while implementing a strict policy on safety at work. A low frequency less than 1 lost time incident per million of working hours was achieved in 2007 for nearly 6 million working hours. Ever since, TEPY has been instrumental in the national economy of Yemen, a country heavily relies on oil production and marketing for its economy. TEPY started its operations in Yemen with about 60 employees, mostly expatriates....
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Calculate the Total Asset Turnover, the P, P, & E Turnover
  • Offshore E&P Summit Myanmar 2014 Essay
  • Total Research Paper
  • a and p Essay
  • A P Essay
  • A & P Essay
  • e library Essay
  • E Commerce Essay

Become a StudyMode Member

Sign Up - It's Free