The Say'un – Al Masila Basin is located in the centre of Yemen. Early exploration focused on shallower Cretaceous reservoirs, now considered to be mature – in the last decade, just 85 mmboe of new resource was found. Recently wells have been extended down to test the potential of the Basement, and as all future wells are expected to be drilled to the Basement, we analyse the basin as a single exploration opportunity. The basin has a well-established infrastructure network. This allows for many developments to be rapidly brought onstream, with minimal upfront expenditure, and should underpin good value creation and rates of return in the basin in future. However the deteriorating political and civil situation in Yemen since 2014 has effectively brought any new licence awards or exploration work to a halt, and we expect exploration activity in the country to be suspended for several years. This reduced exploration activity restricts the yet-to-find potential in the basin.
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Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
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Asset report | Mar 2016
Yemen Say `un - Al Masila exploration basin
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