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Yemeni oil production rises

Posted by FREE ADEN on June 26, 2009

June 26 — An increase in oil production from the Shabwa basin in south-central Yemen is expected to make up for shortages in other development sectors.

The U.S. Energy Information Administration reports production was expected to rise to 500,000 bpd, however, because of offshore developments.

Meanwhile, production at Sector 10 of the Shabwa basin is expected to increase from 45,000 bpd to 60,000 bpd, with the S-2 sector boasting as much as 50,000 bpd from increased drilling operations, Saba, the official Yemeni government news agency, reports.

Yemen relies on oil for roughly 85 percent of its export revenue and 33 percent of its gross domestic product.

The attack on the USS Cole in 2000 and volatility in the Gulf of Aden, however, make development of the Yemeni oil sector a risk concern to foreign companies operating there.


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