VOL. XLIV

No. 25

18-June-2001

YEMEN

Yemens Parliament Approves PSAs With Nexen And Oxy

Yemens parliament on 9 June approved two production-sharing agreements (PSAs) with Canadas Nexen (the former Canadian Occidental), and Occidental Petroleum (Oxy) of the US. Nexen signed a memorandum of understanding (MOU) with Yemen last January on a PSA for Block 59 in the northeast of the country, which became available as a result of the border agreement signed with Saudi Arabia in June last year (MEES, 29...