Nexen Occidental signsan Oil Production Agreementwith Yemen [Archives:2001/04/Business & Economy]
January 22 2001
The Yemeni Ministry of Oil and Mineral Resources signed an agreement with Nexen Occidental and its partners, along which the Yemeni Company in the 44 Southeast Haraz area, in the Hadramout governorate, which has a total area of 6332 square km. The first oil exploration stage will last 30 months, in which 300×300 sq. km will be covered. Besides that, two exploration wells will be dug. In the second oil exploration stage, which will also last 30 months, an area of 200×200 sq. km will be explored, and a three dimensional volume of 150x150x150 cubic km would be explored along with the digging of two more exploration wells.
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