North Yemen Approves Production-Sharing Agreement with PIC
MEES learns that the North Yemeni Government has approved aproduction-sharing agreement with the Geneva-based Petroleum InternationalCorporation (PIC) covering approximately 12,000 sq. kms. in the Marib-Jawfarea relinquished by Hunt Oil last year, representing 25% of its originalconcession area (MEES, 4 May 1987). The new agreement with PIC reportedlycontains terms more favorable to the Yemeni...