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Fri 1 Jun 2007 12:00 AM

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Yemen tries to tempt Canadian oil majors to bid

Yemeni oil minister Khalid Mahfoudh Bahah has called on Canadian energy companies to take part in the country's debut bidding round later this year.

Yemeni oil minister Khalid Mahfoudh Bahah has called on Canadian energy companies to take part in the country's debut bidding round later this year.

"We are looking to open up nearly ten offshore blocks and are targeting to conclude the bidding process in six to eight months," said Bahah.

Yemen's output currently stands at 350 000 barrels per day, but the country is looking to encourage international players to boost this further. The blocks available in Yemen's planned round lie along the Red Sea, Gulf of Aden and the Socotra basin.

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