19 companies compete for investment in oil and gas [Archives:2004/727/Business & Economy]

April 8 2004

Mahyoub Al-Kamaly
Nineteen companies have been qualified for entering in competition of investment in oil and gas, as mentioned in the tender made by the Yemeni government recently. These companies are among 28 companies offered to be qualified for the tender. The 23 of next May has been fixed as a date for receiving final offers from the companies and the results would be announced on 20 of next June.
According to oil sources, the French company Total, the Austrian OMV, the Russian Luk Oil, the British Dove Energy Yemen and the Global Petroleum of the UAE.
The ministry of oil and the Petroleum Exploration and Production Authority I Yemen would in the second half of this year implement the second phase of the oil promotion campaign for the region south of the Empty Quarter and the central region according to tangible and studied scientific vision. It is expected that during the present year there would be an announcement on a new commercial oil discovery in the oil sector no.19 that is operated by the Cagily company that has begun experimenting al-Ruaidhat 1 well and the results proved the existence of oil at a rate of 614 barrels per day.
The German company that works in sector S 2 in Shabwa would begin a developing and appraising working program after testing a well with a capacity of 450 barrels a day and another well with a capacity of 500 barrels a day.
In the sector 49, information indicates to the existence of oil in three secondary layers in rocks of al-Kaeda, Kuhlan and Shaqra and there would be a determination of productive capacity of those layers. There are also significant oil indicators in sector 43 in Masila while the oil company is cooperating with a world company for promotion on the internet for four open sectors on land and others submerged. The purpose of that promotion is to open a new oil window for Yemen on the world and the conveyance of the biggest possible amount of oil information to world markets as soon as possible as well as easily and actively.