Oil Search has an interest in Block 7, Al Barqa (34%, Operator) in Yemen. This follows the sale of Block 3 (Gardan) (40%) in March 2012 to Total S.A. of France.
In 2010, Al Meashar-1 in Block 7 discovered oil in the fractured basement reservoir. The Al Meashar discovery was appraised in late 2010/early 2011 by the Al Meashar-2 well. The wells have been suspended for further evaluation.
Block 7 has been in force majeure since mid-2011 due to the 'Arab Spring" uprising. Throughout 2012, the Company's local Yemeni staff maintained a presence in the Yemen office providing support to the Company's operations in other MENA areas. The political situation in Yemen is being closely monitored, to assess when it may be possible to resume field operations.
The Company plans to acquire a 2D seismic programme over prospective parts of Block 7 in 2013, subject to a return to a stable and safe operating environment.