[02 September 2008]

SANA'A, Sep. 02 (Saba)-General manager of Total E&P Yemen Mr. Martin Deffontaines revealed the company's intention to invest $1 billion to develop the oil block No. 10 in Shabwa province.

Mr. Martin said to the state-run Thawrah daily on Tuesday  that the company plans to increase the oil production from the block to 60000 barrels per day in 2009.

He explained that the company has shares in the blocks No. 5 - 69 - 71 as well as the largest share in the Yemen LNG Company by ratio of 39.62 percent.

The company signed a partnership agreement with Yemen to product oil in April 1987.

YA

Saba