Business

Medco Yemen to Invest $36 Million

National Yemn

Indonesian Medco meets with Yemen Government official

NY Staff

The Indonesian Medco Yemen resumed its seismic operation activities in Block 82 in Wadi Amad and Block 83; both of which are in Hadhramout. On Thursday the Medco Yemen’s general manager, Mr. Ahmed Saif met with the Deputy Governor of Hadhramout, Ahmed Janaid al-Janiad to discuss the future opportunities of the company in the two blocks.

Al-Janaid said that they are ready to cooperate with the company to achieve its mission in Yemen successfully.

Medco is planning to invest the first budgeted $36 million US starting this month on Block 82 and Block 83 and it intends to drill the first well by the end of the year 2012 or the beginning of 2013.

Medco has oil activities in Oman, Libya, Tunisia, America, Cambodia and Indonesia.