Sinopec to Begin Exploration in Yemen
Sinopec Jiangsu Oilfield Co, a division of Sinopec, plans to explore for oil in Yemen. Jiangsu Oilfield signed an memorandum of understanding with Yemen's energy ministry to explore an area of about 2,195 square kilometers in the Amakeen region of eastern Yemen's Shabwah province.
Jiangsu Oilfield is expected to carry out the project in two phases lasting three years each, with a price tag of $10 million. In the first phase, Jiangsu Oilfield is committed to undertake 200 kilometers of seismic survey and drill one exploration well. In the second phase, the company will undertake 400 kilometers of seismic survey and drill one exploration well.
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