Oil reserves in the Yemen’s Jannah field have increased from 345 million to 400 million barrels, based on the latest technical study, a Yemeni oil source told Al-Hayat . Following several development and expansion projects, the oil fields in Jannah, situated between the Shabwa and Maareb governorates in central Yemen, currently produce 70,000 barrels per day.
The same source added that Jannah’s section five has produced 45 million barrels of oil since its opening in 1996. Oil reserves in Shabwa’s section 20 have also increased to 200 million barrels. The Adeer and Ocidental oil exploration companies have recently signed an accord to operate in Shabwa.
Yemen plans to raise its production capacity of crude oil from 460,000 barrels per day to 475,000 barrels per day starting in 2002, local officials told the Yemen Times. Ministry of Oil Rashid Baraba'a recently signed a memorandum of understanding (MoU) with a US consortium led by Pan-America and US Oil Production, giving the consortium the right to explore oil and gas in the Arabian Sea near Mahra coast.
An earlier offshore concession allows an Australian-Korean consortium to explore oil opposite to Hadramaut governorate, while another MoU was signed with Russ Oil & Gas Stroy in Mahra governorate. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
