Petsec Energy completes acqusition of stake in Yemen's Block 7

Australia's Petsec Energy has completed its acquisition of both the Mitsui E&P Middle East BV (8.5%) and AWE Ltd. (21.25%) participating interests in the Block 7, Al Barqa Permit, in the Republic of Yemen – a combined 29.75% participating interest in Block 7.

Block 7 is an onshore exploration permit covering an area of 1,235,527 acres (5,000 square kilometers) located 211 miles (340 kilometers) east of Sana’a, the capital of Yemen. The block contains the Al Meashar oil discovery, as well as an inventory of leads and prospects defined by 2D and 3D seismic surveys.

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