Yemen increases the number of its oil fields to 63
Yemen’s minister of oil has said that four new oil fields have been added to the country’s 30,000 square km northern region as a result of the recent border treaty between Yemen and Saudi Arabia, reported the Yemen Times. This raises the total number of oil fields to 63. The minister added that oil income will rise to US$ 910 million this year in comparison with US$ 495 million last year.
The minister declared that after signing of the border treaty many companies have submitted offers to the ministry to obtain excavation concessions. He said the ministry will choose the best tender submitted.
The minister stated that in late in August, the Western U.S. Geophysical Company will conduct first stage seismic surveys in the Arabian Sea off Hadramout in South Yemen and the Al-Mahrah shore, up to Sukatrah, an area of more than 80,000 square km. During the second stage, the company will conduct the survey on the marine areas from Aden to Abyan and Shabwah. If the survey's results are positive, the area will be divided into blocks.
The overall production in the five new fields is estimated to 492,000 barrels per day
Referring to the Aden refinery the minister said a comprehensive plan for its development had been outlined. The plan will be presented to the cabinet next month, he said. – (AlBawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
- CGG's experience reaps another complex survey in Yemen
- Yemen's oil fields eyed-up up by US and French companies
- Total exports of Bahrain in 2004 stood at BD2.83bn, an increase of 13.4% over 2003
- Yemen to Upgrade its Aden Oil Refinery plans at $250m
- British Dove Company increases its oil production in Yemen