Middle East Economic Survey

VOL. LIV

No 48

28-Nov-2011

yemen

Nexen Confirms Exit From Yemens Masila Oil Field

Calgary-based energy company Nexen confirmed its exit from Yemens largest oil field on 23 November, following the Yemeni governments refusal to renew the operating license for the field. Nexen reports that it has been informed by the government of Yemen that its application to extend the production sharing agreement (PSA) on Block 14 (Masila) has not been accepted, the company said...