Sinopec Signs MOU For Block 1 Exploration
Jiangsu Oilfield Company, a division of Chinas Sinopec, in mid-April signed a memorandum of understanding (MOU) with Yemens Ministry of Oil and Minerals to explore for oil in Block 1 (Amakeen). The 2,195 sq km block lies in the eastern Shabwah province (for concession map, see MEES, 3 December 2001). Under the MOU, Jiangsu Oilfield will carry out the exploration in two three-year phases, with $5mn invested in each. In...