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Indian oil cos ink pacts for 5 blocks in Yemen
April 17, 2008: Indian oil companies have signed agreements for five hydrocarbon exploration blocks in Yemen on April 13. The agreements signed would be sent for ratification to the Yemen Parliament and would eventually be sent to the President of Yemen for approval.
Agreements were inked for block Nos. 82 & 83 by the Oil India Ltd (OIL) and Indian Oil Corporation (IOC) consortium with their foreign collaborators namely Medco Energy and Kuwait Energy Company. For block Nos. 19, 28 and 57, agreements were signed by Gujarat State Petroleum Corporation with their foreign collaborators Jubilant Enpro and Alkor Petro.
In December 2006, seven oil blocks were allotted to different Indian companies: 82 & 83 to OIL-IOC; 19, 28 and 57 to GSPC with foreign collaborators; and 34 & 37 to Reliance India Ltd (RIL) with Hayel Saeed Group of Yemen as the collaborator.
Source: Hindu Business Line