Yemen Offers 11 Blocks in First Offshore Oil & Gas Bid Round

DUBAI, (Dow Jones Newswires), Aug 08, 2007 (Dow Jones Commodities News)

Yemen launched its first offshore bid round Wednesday, offering 11 blocks spanning the Red Sea and Gulf of Aden areas.

The Red Sea blocks on offer are 55, 22 and 23, located to the south of Saudi Arabia.

Blocks 46, 61, 62 and 63 are in the south of Yemen in the Gulf of Aden.

Blocks 93, 94, 95 and 96 are around the Yemeni island of Socotra, known for its unique wildlife.

Statoil (STO), Total (TOT) and Nexen (NXY) are among major international oil companies that have expressed interest in bidding for the blocks.

The bid deadline is December 8.

Copyright (c) 2007 Dow Jones & Company, Inc.

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