New oil discoveries in Yemen

The Nicosia ­ based Middle east Economic Survey ( MEES ) said in its Monday's issue that several international companies have shown interests in four new areas in Yemen, that were specified as a result of a border agreement with Saudi Arabia in June.

News reports said that Nabil al-Qousi, the chairman of the excavation commission for oil told MEES that there are four or five companies that showed interest in four areas, adding that these new areas have raised the number of areas prepared for oil exploration to 63, including 23 that are subject to shared production agreements.

He added that total oil production in Yemen is estimated at 456500 barrels every day.