The Meashar-2 appraisal well in Yemen's Block 7 encountered oil at depths between 3,200 and 3,460 meters, stakeholder AWE said Wednesday. Australia-listed AWE holds a 21.25% stake in the block through its wholly owned subsidiary ARC Energy. The block is operated by compatriot Oil Search, which has a 34% stake. Other partners are Kuwait Foreign Petroleum Exploration (21.25%); Yemen General Corp. for Oil and Gas (15%) and Mitsui (8.5%).
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