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Yemen Offers Five Oil Blocks for Exploration and Development

Yemen has invited international companies to bid for exploration and development rights in five oil blocks around the country, local news agency reported.

Yemen has invited international companies to bid for exploration and development rights in five oil blocks around the country, local news agency reported.

Oil and Minerals Minister Ahmed Dares told local news agency Saba that the auction aimed to attract foreign investment and increase exploration operations. "Increasing oil production and reserves through expanding exploration blocks... is a top priority for Yemen at the moment," Saba quoted him as saying.

The blocks on offer are 6, 15, 84, 85 and 102, which are located in the al-Saba'ateen, Say'un-Masila and Mukalla-Sayhoot basins, Dares told Saba.

Source : Neftegaz.RU