DNO International Joins Yemen’s First Oil Venture, Saba Says

DNO International SA (DNO), Geopetrol and state-owned Yemen Oil, Gas & Minerals Co. signed the Arab Peninsula nation’s first joint venture for the production of crude, the official Saba news agency reported.

The venture, called Janub Hood, will operate at block 47 in Yemen’s southeastern Hadramaut province and start producing oil by the end of this year or early in 2013, the agency said today. Output will start at a rate of about 10,000 barrels a day, according to the report, which gave no further details about the project.

To contact the reporter on this story: Mohammed Hatem in Dubai at mhatem1@bloomberg.net

To contact the editor on this story: Stephen Voss at sev@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.