June 7. 2006─ Six laws
endorsing production sharing agreements with oil
companies were the latest achievement of June 2006.
Law No. 16/2006 was issued concerning the approval
of the PSA between the MOM, on one side, and MEDAS
Oil and Gas FZC and the Yemeni Company of Yemen Oil
and Gas Corporation, on the other. The PSA is
regarding block 8, Al-Assaker district, Shabwah
governorate. Following that was Law No. 17/2006
approving the PSA between the MOM, on one hand, and
MEDAS Oil and Gas FZC and the Yemeni Company of
Yemen Oil and Gas Corporation, on the other. The PSA,
this time, is regarding block 68, Ghail bin Yemeen
district, Hadhramout governorate.
Law No, 18/2006, being
the third, approved the PSA between the MOM and OMV
Company and Yemen Ma’eber for Exploration GMBH and
Yemen Oil and Gas Corporation to operate block 2,
Al-Ma’eber, Shabwah governorate.
What followed was Law
No. 19/2006 to endorse the PSA between the MOM, on
one side, and Oil Search Yemen Ltd.; Bet Oil
Petroleum and Petroleum Abroad; AX National
Exploration and Production Incorporated; and Yemen
Oil and Gas Corporation. The PSA is concerning block
3, Jardan district, Shabwah governorate.
The fifth one is
Law No. 20/2006, supporting the PSA between the MOM
and Baron Energy Yemen Ltd., Delta High Advanced
Ltd., and Yemen Oil and Gas Corporation,
appertaining to block 6, Iryam district, Shabwah
governorate. The last one, Law No. 21/2006, was
issued to approve the PSA between the MOM and the
consortium of Korean companies (being Korean
national Oil Corporation, Samsung Corporation,
Disung Industrial Company Ltd, G.S. Holding
Corporation) and Yemen Oil and Gas Corporation. The
PSA is concerning block 16, Al-Kamer Gulf, Al-Mahrah
governorate.
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