Middle East Economic Survey


No 15



Yemen Government Rejects Extension Of Hunt PSA

Under pressure from parliament the Yemeni government on 30 March scrapped a deal reached at the end of 2003 with Hunt Oil of the US to extend the companys 20-year oil production-sharing agreement (PSA) for a period of five years from November 2005 (MEES,17 November 2003). Hunt is the operator with a 37% interest in the 100,000 b/d Marib-Jawf concession in Yemens Block 18, together with a...