(As of Dec, 2011)

In May 2007, KNOC made a Farm-Out Agreement with Yemen Company for Investment In Oil and Minerals(YICOM) and acquired 50% participating Interest of YICOM's share. As of October 2010, in the development area, about 150 barrels of oil is being produced daily. And in the exploration area, approximately 217 million barrels of exploration resources is expected. 1st Drilling campaign(first well, second well) is going on as schedule.

In April 2005, KNOC made a Production Sharing Agreement with Yemeni Government for Block 70, an onshore block, through direct negotiation. Block 70 is in the productive Sab'atayn basin which is located in middle onshore area of Yemen. KNOC have a 13% working interest in Block 70, Total(international oil company of French) have 52.72% interest as Operator, and Other partners are OMV(20.25%), Samsung (8%), Daesung (6%)

After exploratory Drilling, Total and OMV proposed the assignment of interest from the Korea partners.
Korea partners assigned 60% of their interest to Total and OMV by FOA(Farm Out Agreement), Total became a Operator of Blcok70