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Calvalley Petroleum Provides Operations Update

Source: 5/15/2014, Location: Middle East

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Calvalley Petroleum Inc. Provides the following operations update for shareholders. on May 7, 2014 the oil pipeline between Block 18 and the Ras Isa Terminal on the Red Sea was ruptured in two locations. On May 8, 2014, the operator of Block 18 indicated that no further shipments of crude oil would be accepted from Calvalley until the pipeline was repaired.

At the time of the rupture, crude oil inventories at the Company’s central processing facility (”CPF”) were reduced to normal operating levels, leaving storage capacity available for approximately 10 days production. Since the rupture on May 7, 2014, the pipeline operator has been unable to repair the pipeline due to local constraints.

Calvalley intends to manage its production operations at Block 9 consistent with available storage capacity at the CPF and the ability to transport its crude oil production. The Company plans to initiate the drilling of the Ras Nowmah 7 appraisal well as soon as the required services can be made available.

Calvalley management and staff continue to work closely with the government of Yemen and local officials to resolve the concerns of locals in the region of Block 9 in order to access the transportation route to the crude oil transfer facilities at Block 51.

Calvalley is an international oil and gas company, with offices in Calgary, Alberta, Canada, that operates its 50% working interest in Block 9 of the Masila Basin, in The Republic of Yemen.

For more information about Oil and Gas in Yemen visit Yemen Projects Database

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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

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