Yemen Amends Terms For CanadianOxy's 'Uqlah Block
On 1 November the Yemeni Council of Ministers approved the amendment of the terms of the production sharing agreement with Canadian Occidental and the Lebanese Athens-based Consolidated Contractors Company (CCC) covering the Shabwa S-2 Block (the 'Uqlah Block), which were initialed last December (MEES, 22 May). The amended agreement provides for the following: a 50% cost recovery instead of the...
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