ARCO AGREES TO E&D CONTRACT WORK IN YEMEN

An ARCO unit has agreed to provide exploration and development services for a block in Yemen where a former Soviet contractor found an oil resource estimated at as much as 4 billion bbl in place. The agreement follows award of Yemen's onshore Block 4 to a group of expatriate Yemenis operating through Nimir Holding Co., Cayman Islands. Nimir, a financial holding company with no operating oil experience, signed a production sharing contract for the block last month (OGJ, Oct. 14, Newsletter).

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