Project Profile
Value: Undisclosed
Location: Masila Basin, Block 47, Yemen
Reserves: 7.4 million barrels of oil (gross ultimate recoverable reserves for phase 1 development)
Start-up Year: -
The Yaalen field is located in the Masila Basin in Block 47 in Yemen and was discovered when the Yaalen-1 well was drilled in 2008. At that time, the field was considered sub-commercial, however when Yaalen-3 was drilled in 2010 significantly larger volumes were revealed. A Notice of Commercial Oil was then submitted in March 2011. Partners in Block 47 are DNO International SA (DNO) which is also the operator, Geopetrol and the state-owned Yemen Oil, Gas and Minerals Corporation. The reserves for the first phase of the development was estimated to be 6-7 million barrels of oil from the Qishn formation. The gross ultimate recoverable reserves for phase 1 development was per 31 December 2011 estimated to 7.4 million barrels with DNO\'s share of 3.7 million barrels. A total of 80 percent of Block 47 has been relinquished in connection with the transition from exploration to development phase.
Operators:
DNO: Operator with 40% interest
Geopetrol: 10% interest
Yemen Oil, Gas and Minerals Corporation: 50% interest