Middle East Economic Survey


No 43



Yemen To Hand Hunts Block 18 Concession To Safir Co

Yemen announced on 18 October that it is to hand over the running of oil production operations in Block 18 to a state-run Yemeni oil company the Safir Company for Petroleum Exploration. Hunts production sharing-agreement (PSA) for Block 18 expires on 15 November following the cancellation earlier this year of a deal reached in 2003 to extend the companys 20-year PSA for a further...