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OMV pumps Yemeni crude
- Yemen: Wednesday, December 27 - 2006 at 15:56
OMV has started pumping oil from block S2 in Yemen. Output of 11,000 bpd is expected by 2008, with a planned second phase designed to increase that to 32,000 bpd by 2010. The field has proven reserves of 50m barrels, OMV said in statement. Full field development will need $250-$300m investment. OMV and 50:50 joint venture partner Pakistan Petroleum recently won an exploration concession licence for block 29 in the Jeza-Qamar Basin.
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James McInerney, News EditorWednesday, December 27 - 2006 at 15:56 UAE local time (GMT+4)
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This article was updated on Sun Jun 17 2007.
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