
Nine onshore and 11 offshore blocks planned for auction
Yemens Oil Ministry has selected 18 international oil firms to participate in its sixth oil block licensing round planned for 2013.
As many as 45 companies submitted prequalification documents in May to the Oil Ministrys Petroleum Exploration & Production Authority (PEPA) for the licensing round, which covers nine onshore and 11 offshore oil blocks, according to state news agency Saba.
The prequalified firms include some companies already operating in the country, namely: Frances Total, the US Hunt Oil, Sharjah-based Dana Gas and Kuwait Foreign Petroleum Exploration Company (Kufpec).
PEPA is yet to announce a date for the oil licensing round.
The Oil Ministry has divided the country into 87 oil blocks, 13 of which are in production and operated by 11 international oil firms. Another 26 blocks are still in the exploration phase, with 16 oil companies conducting surveys and drilling.
According to the UKs BP, Yemen produced about 180,000 barrels a day (b/d) of oil in 2012, a decline of more than 20 per cent from its 2011 production of 228,000 b/d.
Before the political turmoil of 2011, Sanaa raised 50 per cent of state revenues through its share of oil exports, while 80 per cent of the value of all Yemeni exports came from hydrocarbons.
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