Yemen signs $22 mln oil exploration deal
Yemen has signed a $22.2 million oil exploration deal with a consortium led by the Yemen arm of Australia’s Oil Search , the official Saba news agency reported on Sunday.
The two-stage production sharing deal involves blocks 7 and 74 in the country’s sourth east, the agency said.
The Australian firm’s partners include state-owned Kuwait Foreign Petroleum Exploration Co. and Australia’s Voyager Energy .
Yemen produces about 400,000 barrles per day of crude.
