Yemen New Block to Start Oil Production Soon

Source: Yemen News Agency 3/21/2011, Location: Middle East

Yemen's Petroleum Exploration and Production Authority (PEPA) said a new oil exploration field has been entered into service that will start oil production soon at the block 47 south of Hood in Sayoon city, Hadramout.

Nasr al Humaidi, head of the authority, told Saba PEPA has already announced the commercial of the block 47 operated by the Norwegian company DNO which said the oil reserve at the block was estimated at 26 million barrels and the figure could rise.

The preliminary production will reach 10000 barrels a day and will increase later when more facilities are built and after the development of the block, he said, adding that the production blocks in the country are now 13 blocks.

The commercial came as the Ministry of Oil and Minerals plans to boost oil exploration through including new areas within the development zones and maintaining the daily oil production rate, he said, affirming the authority also plans to attract more foreign companies specialized in oil industries and investment.

Oil remains one of the key Yemeni exports whose revenues account for 70 per cent of the state budget.


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