Yemen, British Burn Energy sign oil production-sharing agreement

SANA'A, Sep. 21 (Saba) - Oil and Minerals Ministry, Yemeni General
Corporation for Oil and Gas and the British "Burn Energy Ltd"
Company signed here on Sunday an oil production-sharing agreement in
19,000km² in the area of Aden, Abyan and Lahj.

The agreement stipulated that the British company carries out
petroleum works in the first and second exploratory stages, 36
months for each stage.

During the first stage, the company will spend $8.8 million for
conducting seismic surveys in a line of 1,200 km in length in
addition to drilling two experimental exploratory wells.

The second stage of $ 6 million includes conducting seismic surveys
in a line of 500 km and drilling an experimental exploratory well.

Noteworthy is that the area of Aden, Abyan and Lahj is still a new
area for petroleum operations.