Foreign oil firms compete on Yemeni tender
A total of 19 foreign oil companies, out of 28 companies, applied to enter a tender-competition to invest in six oil blocks in Hadramout and Shabwa (69,70,71,72,73,74).
In a ceremony held on the occasion of opening the tender, Yemen's Oil Minister Rashid Ba-Raba'a said the competition is the "first of its kind in the history of oil exploration in Yemen as it gives a chance for all global firms to invest in six oil blocks."
Cited by Saba news agency, he noted that the competition was based on "transparency" and according to international measures.
Chairman of the Yemeni Oil Explorations and Production Authority, Nabil Al-Qowsi, said that oil output of those blocks are "very good." According to him, the new oil exploration last year, especially in block 51 and S1 block raised the number of productive blocks to nine.
Al-Qwosi said the dateline of receiving applications regarding the tender is May 23rd and the announcement of the winners will be on June 20. (menareport.com)
© 2004 Mena Report (www.menareport.com)