DNO awarded new exploration license in Yemen
Posted: 12 December 2006
The Ministry of Oil and Minerals has selected the joint venture group comprised of DNO ASA (operator at 34 per cent), TG Holdings Yemen Inc. (33 per cent) and Ansan Wikfs (Hadramaut) Limited (33 per cent) as the successful bidder for Block 84 in the Third International Bid Round for Exploration and Production of Hydrocarbons.
Block 84 encompasses 731 square kilometers (approximately 183,000 acres) and is located in the Masila Basin adjacent to the Canadian Nexen Masila Block where more than one billion barrels of oil have been discovered.
The Block 84 Joint Venture Group plans to carry out a 3-D seismic acquisition program and the drilling of four exploration wells during the first exploration period of 42 months.
With the addition of Block 84, DNO will have interests in seven Blocks in the Republic of Yemen.
"DNO is delighted by this new award which will further strengthen our position in Yemen," said Helge Eide, DNO's Managing Director.
"Yemen is a core area to DNO and we have a very active exploration program in Yemen for 2007, where DNO plans to participate in 13 exploration wells of which 10 as Operator."
Posted by Richard Price, Editor, EnergyME.com
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