New oil discoveries in Shabwa [Archives:2005/870/Business & Economy]
Mahyoub Al-Kamaly
Oil sources have recently announced about new oil discoveries in of oil exploratory sectors in the governorate of Shabwa. Engineer Nabil Saleh al-Qawsi, president of the Petroleum Exploration and Production Authority, has said in a press statement that during the coming short period there would be a commercial announcement on the above findings.
Eng. Al-Qawsi also has mentioned that the operation of production and exportation from Malik 9 sector in the governorate of Hadramout, which is being operated by a Canadian company and its commercial announcement on discoveries in it has been recently made, and would begin during the first quarter of the year 2006.
He also mentioned that in the light of oil discovery inside rocks in Mareb and Masila basins, the authority was working to consolidate those discoveries and develop through the implementation of a number of technical and geological studies and exchange of expertise with some countries producing oil from such rocks, adding that this would be made a major target for future operations of oil digging and discoveries.
Mr al-Qawsi also revealed that his Authority had already started for the third MAJOR international bid round for oil and gas in the light of approval of the minister of oil and minerals Dr. Rashid Barabbaa, indicating that advertisement on it has been published already.
The tender announcement is published in the media and the Authority's internet website. The bid includes 14 blocks open for oil discoveries, namely, 11, 79, 80, 82, 83, 84, in the governorate of Hadramout. Sectors 12, 30, and 29 are in the governorate of Maharah. Sector 17 is in the governorates of Aden and Abyan, 19 in the governorate of al-Jawf, 23 in Hudeidah, and 28, 57 in the governorate of Shabwa.
Mr al-Qawsi added that the mentioned blocks were among promising ones pursuant to accurate study of operations of discovery, analysis and assessment, among them are parts of currently producing sectors that have been abandoned by operating companies when the work reached the stage of production.
The ministry of oil and minerals and the authority of petroleum exploration and production had announced about the final results put to the second international bid concerning the seven open oil sectors. The tender resulted in the wining by the Australian company Oil Search, The Emirates Al-Thani Company for Investments, the Korean KNOC company and the American company Occidental.
Oil sectors in Yemen amount to 87 covering most of land and rocky areas. Of these are 11 producing sectors operated by 9 companies and producing around 400 thousand barrels per day, in addition to 21 exploratory sectors where 13 companies are working, four sectors still under endorsement, 9 sector under negotiation regarding an agreement on sharing in production, and 42 open sectors, 14 of which to be announced about in the third international bid.
The environment in the country is full of obstacles and so far it has been unable to acquire trust of investors who in turn began to move outside in quest of better opportunities and more suitable environment not fraught with contradictions between words and actions.
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