AGIP Oil Agreement [Archives:1998/32/Local News]

August 10 1998

A memorandum of understanding was signed by the Ministry of Oil & Mineral Resources and AGIP oil company of Italy on Saturday, August 8 in Shabwa. The agreement specified the duration of oil explorations at 9 years divided into three periods. According to the memorandum an seismic survey covering about 600 sq. km will be carried out.