VOL.XLIV

No49

3-December-2001

YEMEN

PanAmerican Energy/US Reduction Sign MOU For Oil/Gas Exploration In Blocks 16 And62

TheYemeni Oil and Minerals Ministry on 22 October signed a memorandum ofunderstanding (MOU) with Pan American Energy and US Reduction to explore for oiland gas in Blocks 16 and 62 in al-Mahara province (see Map). The two companieshave agreed to invest $35mn in the first two phases of exploration. The signingof the MOU is part of efforts being made by the Yemeni Government to...