VOL. XLVI

No 5

3-February-2003

YEMEN

Capital Oil And Gas Signs MOU For Blocks 37 And 39

The Yemeni government and the UKs Capital Oil and Gas on 28 January signed a memorandum of understanding (MOU) under which the latter will develop Blocks 37 and 39 in al-Mahra province in the southeast of the country (for map, see MEES, 3 December 2001). Under the terms of the MOU, Capital has agreed to invest $25mn in the first exploratory phase in the Mar'id and Damghawt districts.