New Oil Exploration Deals in Yemen [Archives:2000/16/Local News]

An official at the Yemeni oil ministry said Tuesday that a group of international oil companies led by Occidental Petroleum had signed an agreement to explore for oil in Yemen’s block 20, an area located between the governorates of Marib and Shabwa. Yemeni state-owned and private companies are to carry out initial studies and exploration, investing an estimated amount of $ 16 million.
Yemen is a petroleum producing country with a current output of around 390,000 barrels of crude per day.
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