Chevron Farms Out 40% Interest to Agip in Yemen's Shabwa Block No.3
MEES understands that Chevron of the US has decided to farm out to Italy's Agip a 40% interest in its production-sharing agreement covering Block No. 3 inYemen's Shabwa area in exchange for acreage in West Africa. Yemen awardedChevron Shabwa Block No. 3 (the 'Amiq Block), which covers an area of 2,953 sq.kms. southeast of the producing Hunt/Exxon Marib block, in November 1990 (MEES,3 December...