The Petroleum Exploration and Production Authority (PEPA) has revealed great promising indicators showing a probable big gas and oil reserves in the offshore blocks at the Red Sea, Gulf of Aden and surrounding areas of Socotra Island.
"Old drilling operations in some offshore areas confirmed the existence of gas and oil indicators" the chairman of the Petroleum Exploration and Production Authority Ahmed Ali Abdella told Saba.
He added that the Petroleum Exploration and Production Authority's experts have re-divided all the Yemeni marine area to 25 offshore blocks according to the results of seismic surveys and digging operations, of which 11offshore blocks have opened for competing before the international companies, adding that now land and sea blocks would be opened for competition after ending the current ones.
The exploration blocks in the country will be over 40 ones in 2008, Abdella said.
He noted that 25 out of 30 bides received from international companies have been accepted for exploration rights in 11 offshore oil blocks.
"Old drilling operations in some offshore areas confirmed the existence of gas and oil indicators" the chairman of the Petroleum Exploration and Production Authority Ahmed Ali Abdella told Saba.
He added that the Petroleum Exploration and Production Authority's experts have re-divided all the Yemeni marine area to 25 offshore blocks according to the results of seismic surveys and digging operations, of which 11offshore blocks have opened for competing before the international companies, adding that now land and sea blocks would be opened for competition after ending the current ones.
The exploration blocks in the country will be over 40 ones in 2008, Abdella said.
He noted that 25 out of 30 bides received from international companies have been accepted for exploration rights in 11 offshore oil blocks.
Via: Islamic Republic News Agency
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