Middle East Economic Survey


No 43



OMV Signs MOU For Yemens Block 2

Austrias OMV on 18 October signed a memorandum of understanding (MOU) with Yemens Ministry of Oil and Minerals covering Block 2 (al-Mabar, 3,700 sq km 150km north of the Gulf of Aden) in Shabwa Governorate, the official Yemeni news agency SABA reported. An OMV spokesman told MEES that the company had been given an exclusive three-month period to finalize an agreement. If a deal is reached, OMV will...