Four New Oil Agreements [Archives:1998/15/Local News]
The Council of Ministers recently ratified four new concessions with international oil companies:
1- Trans-South Canada in the S1 Block (4480 sq.km) in Damas, Shabwa;
2- Mol of Hungary in Block 48 north of Mukallah, Hadhramaut;
3- Petro-Teos International Inc. in Block 15 (13,040 sq.km), in Mukallah, Hadhramaut; and
4- British Oil, Gas, and Mining Co. in Block 41 (7,342 sq.km) west of Mukallah, Hadhramaut.
The Council of Ministers also reviewed a draft agreement with the British company to prospect for oil in Block 47 (7,606 sq.km) in Hadhramaut.