The Calgary-based operator said it has provided notices of relinquishment for the two licences, known as Block 32 and Block 72, because the former is no longer economic and the latter is inoperable due to security constraints.
The company has also reclassified reserves on its remaining Yemeni acreage - Block S-1 and Block 75 - as contingent resources.
“Notwithstanding the company's Yemeni assets are in prolific geologic basins with good contractual terms and infrastructure connected, the continued and deteriorating risk profile justifies their write down from our books,” TransGlobe Energy said.
The
