NORTH YEMEN

Hunt Production Sharing Terms Explained

Further analysis by MEES of the production-sharing terms of the Hunt/Exxon venture in North Yemen - where the Alif field is due to start production by the end of this year at a rate of around 200,000 b/d (see MEES reports on North Yemen oil in issues of 9 March and 4 May 1987) - makes it clear that the group's 50% tax liability to the government will be effectively offset by the allocation of an equivalent volume of crude for disposal...