Petroleum agreement between the Yemeni Government and Austrian Oil company AWAM [Archives:2005/861/Local News]

July 21 2005

A new agreement between the Ministry of Oil and Minerals and the Austrian (AWAM) company in Yemen, on exploration and exploitation of the no.2 sector in Ma'abar area in Shabwa Governorate, was signed last week.

Exploration, drilling and production will start in an area of four thousand square kilometers, with a project costing of $14 million USD. The agreement was signed by engineer Abdulmalik Allamah, Under secretary of the Ministry of the Ministry, and Mr. Ahmed Abdulgadir Shaie' General Supervisor for Oil and Minerals. Mr. Peter Satinger, General Manager for the Middle East and Australia signed on behalf of AWAM. Mr. Rasheed Ba Rabba'a, Minister of Oil and Minerals was also present at the signing of the agreement.