VOL. XL

No. 30

28-July-1997

YEMEN

Yemen Approves E&P Agreement With Hungary's MOL Covering Block No. 49

The Yemeni Government approved on 22 July an exploration and production agreementcovering the 3,447-sq. km. block No. 49 (the E/S Al Maber block) which was signed lastApril with the state-owned Hungarian firm MOL (MEES, 14 April). The agreementprovides for a three-year exploration period, renewable for a further period of 2 years,and a minimum expenditure of $8mn. MOL will carry out a...