A memorandum of understanding was inked on Monday between the Yemeni Ministry of Oil and the Austrian OMV company
regarding oil explorations in block No. 2 in Shabwa province. OMV is the largest industrial company in Austria.
Under the memo, the Austrian side will spend $ 14 million during the process of exploration in the block.
The memo was signed by Deputy Minister of Oil Abdul-Malik Alamah and general director of the Austrian company Monji Azoz. (menareport.com)
© 2004 Mena Report (www.menareport.com)
