Yemen's oil ministry has qualified 18 international oil companies, including France's Total SA (TOT) and Norway's DNO International ASA (DNO.OS), to bid for 20 onshore and offshore blocks in its sixth auction aimed at boosting the country's hydrocarbon output through foreign investments.
Yemen
's oil
ministry has qualified 18 international oil companies, including
France
's
Total SA (TOT) and
Norway
's DNO
International ASA (DNO.OS), to bid for 20 onshore and offshore blocks in its
sixth auction aimed at boosting the country's hydrocarbon output through
foreign investments.
Yemen
's Oil
Minister Ahmed Dares said in a statement posted on the ministry website on
Monday that 45 firms had applied to bid for the blocks and only 18 had
qualified. Nine of the blocks are onshore and 11 are offshore.
Besides Total and DNO, Austrian oil and gas company OMV AG (OMV.VI), Hunt Oil
and Gas and Kuwait Foreign Petroleum Exploration Company also qualified for the
bid.
Yemen
is a
relatively small oil and natural gas producer located at the tip of the
Arabian
Peninsula
on Bab el-Mandab, one of the world's most
important shipping lanes. The country has proven oil reserves of around 3
billion barrels, according to the U.S. Energy Information Administration.
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