Petroleum SINOPEC in Yemen [Archives:2005/808/Business & Economy]

January 17 2005

Yasser Mohammed Al-Mayyasi
The Ministry of Petroleum & Minerals and the International specialized Petroleum Chinese SINOPEC have signed last Wednesday Jan. 12 2005 two new contracts of partnership in producing the petroleum in both the blocks, (69) in Shabwah and (71) in Hadramout Governorates. The 1st and 2nd stages of each block will cost US$ 36,000,000.

Chinese SINOPEC is one of the International largest companies having wide experience in petroleum field. It has carried out a lot of successful vital projects in number of countries. It has won these two blocks after competing other twenty-eight international companies.

Both the contracts came following the promotional campaign of petroleum companies conducted by the Ministry of Petroleum in a number of countries.

Other new contracts will be signed in the few coming days with the Southern Korean (K.No.C) Company, and the Austrian (OMV) Company.