Middle East Economic Survey
OMV Signs PSA For Yemens Block 2
Austrias OMV on 13 July announced that it had signed a production-sharing agreement (PSA) with Yemens Ministry of Oil and Mineral Resources for Block 2 (Al-Mabar), located in west-central Yemen. A memorandum of understanding covering Block 2 was signed in October 2004 (MEES, 25 October 2004). OMVs subsidiary OMV (Yemen) Al-Mabar Exploration will conduct exploration and production activities as soon as...