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.
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