Austria's OMV Makes Oil Discovery In Yemen

Source: www.gulfoilandgas.com 8/17/2005, Location: Middle East

Austrian oil and gas group OMV has made a 500 bpd oil discovery at Block S2 in central western Yemen, the company. OMV controls 44 percent of the block. Sinopec of China controls 37.5 percent, followed by The Yemen General Corporation for Oil & Gas with a 12.5 percent stake and The Yemen Resources Limited with 6 percent.

"The OMV operated Habban-1 well, drilled to a total depth of 3,020 metres, encountered a 622 metre oil column in fractured basement formation. It tested at a stable flow rate of 500 barrels per day," OMV said in a statement. The discovery was the third at Block S2, OMV said, adding that it was evaluating the block's commercial potential.

"After drilling and testing a sidetrack well from the (2003) Al Nilam discovery, which will follow Habban-1 operations, we expect to have sufficient quality data to decide about the future development of Block S2," the head of OMV's Exploration and Production division, Helmut Langanger, said.


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