Saturday, 9 October 2010

Yemen to tender 10 oil, gas blocks

Source: Reuters, 09/10/2010
SANAA - Yemen plans to offer 10 oil and gas blocks for development during an international energy conference later this months, the Oil Ministry said.

The six onshore and four offshore blocks will be presented to companies for tenders during the Oct. 18-19 conference in the capital Sanaa (, the ministry said in a statement.

The conference will also introduce 10 opportunities for investment in mining projects, it said.

Separately, Yemen and Kuwait Energy Co. signed a preliminary deal for the private firm to conduct a study on uses and reserves of gas in Yemen, Yemeni state media reported.

Impoverished Yemen is an oil producing minnow in a region of export giants such as neighbour and top exporter Saudi Arabia.

Yemen relies on oil revenues for 70-75 percent of public revenue and over 90 percent of export earnings.

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