YEMEN - Oxy (Vintage) - Damis Block S-1.Block S-1 is in the southern part of the Ma'rib-Shabwa basin, with area of 1,156 sq km. It is operated by Vintage Petroleum Yemen Yemen (yĕm`ən), officially Republic of Yemen, republic (2005 est. pop. 20,727,000), 207,300 sq mi (535,800 sq km), SW Asia, at the southern edge of the Arabian peninsula. of the US which now is a unit of Occidental Petroleum Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. (Oxy). The block contains one field, an-Nagyah, with several oil and gas-rich satellites nearby found by Vintage in recent years. On stream since 2004, the field now produces 8,400 b/d of mainly light/sweet crudes. Its main reservoirs are Alif and Lam sands.The partners in Block S-1's PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. with the government are: Oxy (Vintage - 61.88%), TransGlobe (20.62%), and YCO YCO Yacht Club Olivos (17.5%). The block is connected with the main export crude oil pipeline of Block 5 (Jannah) by a 27-km, 10 inch spur. Oxy acquired Vintage in October 2005 $3.8 bn, as the latter's assets in Yemen were contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. to Oxy's Block 75 operations, offering attractive opportunities for growth and synergies. Oxy had got Block 75 in the Sab'atayn basin in San'a's bid round in July 2005; and had been enhancing its position in the Middle East through ventures in Libya and Oman - (see Oman survey in this Vol. Nos. 5-8). |
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