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Oil Reserves in Yemen
- By Oil and Gas Author
- Published 09/1/2006
- Petroleum Pipeline , Offshore Drilling , Liquefied Natural Gas LNG , Exploration and Discoveries , Natural Gas Petroleum , Crude Oil Petroleum
- Unrated
Despite declining output in mature fields, Yemens immediate goal for the Petroleum industry involves increasing Oil production and oil exports (in 2005, around 330,000 bbl/d is being exported, primarily to Asian markets, including China, India, and Thailand). In order to realize this goal, oil exploration activity in Yemen has accelerated since 1997, after a downturn following Yemens civil war. In July 2005, Yemen completed an Upstream bidding round with the award of seven blocks, six onshore and one offshore. Companies winning blocks included Oil Search (Blocks 7 and 74), Al Thani (Blocks 34, 37 and 55), and Occidental (Block 75). The country is slated to hold another upstream bidding round in early 2006, with 14 blocks being offered in Hadramout (6 blocks), Mahra (2 blocks), Shabwah (2 blocks), Hodeidah (1 block) and others.
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