His Excellency the minister during his visit to occidental -U.S.A

The Minister of Oil and Minerals visited yesterday the main office of Occidental Petroleum in Los Angeles, California in the United States.  H.E. the minister was met by Mr. Nigel Hopkinson Vice President – Eastern Hemisphere at Occidental where he received an overview of the company activities.  Occidental is considered the fourth largest American Oil company with a total capital of 40 billion US Dollars and produces 600000 Barrels of Oil per day in various countries around the world.  The minister also reviewed the company activities in Yemen as Oxy is one of the oldest companies working in Yemen as it has had several investments in Yemen as follows:

1.    Occidental is a partner in Masila block 14 (38%) that is operated by Canadian Nexen Petroleum Yemen.

2.    A main partner in Sharq Shabwa block 10 (28.57%) that is operated by Total.

3.    Oxy operates block S-1 which produces around 9000 barrels of Oil per day.

4.    It was awarded block 75 in the second international round.

The total investments of the company in 2007 are equal to 155 million USD.  The minister also visited the THUMBS offshore operation in Long Beach which produces Oil from four man-made islands.  This offshore operation is one of the most densely drilled areas in the world as it contains over 2000 wellbores.

The minister expressed his appreciation of the technical, scientific and operational technologies used by the company as well as the environmental treatments that are done in this operation that is located in one of the most important coastal and tourism cities in the United States.

At the end of the meeting the minister encouraged Occidental to expand its investment in Yemen in the Oil sector as Yemen is preparing to announce the 4^th international bidding for offshore blocks and assured the company that they will receive full support and cooperation as per the law of the republic of Yemen.