TSXV:CVI.P - Post by User
Post by
Nofool1on Dec 29, 2009 11:07am
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Post# 16622763
Things are moving ahead in Yemen
Things are moving ahead in YemenAt least someone is building a pipeline - maybe ours will be next.
OMV offer to build $ 60-million pipeline in Yemen
Dec, 27, 2009 10:00 AM - Yemen News Agency
The Austrian Company OMV has handed its bids for building a fuel pipeline in Yemen at a cost of $ 60 million, almoatamar.net has reported.
Doing so, the company suggested that international engineering companies hand their technical and commercial proposals before January 19th 2010.
The proposed oil pipeline is 60 km long, extending from the Haban oil field in central-west Yemen to exporting facilities in southern Yemen.
Building this pipeline is part of a continuous monitoring plan to increase oil production at the Haban well in the bloc S2 from 11.000 barrels to 32.000 barrels a day by the end of 2010.
It is worth to mention that the OMV holds 44 percent at the block S2.
China's Sinopec holds 37.5 percent, the Yemen Petroleum and Gas Company holds 12.5% and the Yemen Resource Limited holds 6 percent.