Exploration Shows Signs Of Revival In Yemen

Yemeni oil exploration has been given a boost with news of interest in its recently offered onshore and offshore blocks. Austria’s OMV meanwhile has expanded its Yemeni portfolio with the signing of a production sharing agreement (PSA) for Block 86.

Despite the country’s ever worsening security situation, Yemen announced it has been in contact with a number of small-cap local and foreign oil companies interested in conducting exploration activities in five new blocks offered by the Yemeni Ministry of Oil and Minerals in late September (MEES, 21 September).

On offer were blocks 6, 15, 84, 85 and 102; which are situated in the Sab’ateyn and Sayun-Masila basins, in the Marib and Hadhramaut provinces respectively. Of the five blocks, all but Block 15 are onshore.

“We have received firm applications from some companies in the Gulf, some local Yemeni companies and one in Europe,” Deputy Chairman for Exploration at Yemen’s Petroleum Exploration and Production Authority (PEPA) ‘Abd al-Latif al-Dafrai tells MEES. (CONTINUED - 688 WORDS)