Middle East Economic Survey

VOL. L

No 48

26-November-2007

yemen

Indias Reliance Awarded PSAs For Yemens Blocks 34 And 37

Indias Reliance Industries on 20 November announced the signing of production-sharing agreements (PSAs) for two exploratory blocks, 34 and 37, in Yemens Jeza basin. Reliance holds a 70% participating interest in these blocks, while Yemens HoodOil holds the remaining 30%. According to Yemens news agency Saba, the PSAs (worth $66mn) will have a term of 20 years and include two...