BLOCK (4)
May 14, 2024On the 13th of march 1996 the remaining area of Block 5 was finally relinquished and the area was divided into 2 blocks, YICOM then examined the abandoned area by the contractor of block (5) JHOC, a new re-evaluation
for the concerned area was performed, a revision for all data available is thoroughly absorbed in order to put all of these surveys and studies into one conglomerate package for the purpose of international promotion campaign,
YICOM further participated in the first oil & gas conference commenced in Yemen where which a research paper were submitted by YICOM explaining the possibility of having a worthy oil reserves in these blocks in order to attract investors and the fruit of this effort was resembled afterwards by conducting a group of meetings and negotiations with multiple multinational ompanies where joint production and joint operation agreements to invest in Block (20) sabatyn (The block is located in the BLOCK(4) north side of Jannah zone, its correspondent area is 2049 square kilometer).
The production sharing agreement was signed on the second of April in the year 2000 among (MOM) and the following partners:
- Yemen Company for investment in oil and minerals (YICOM).
- Occidental Al-Sabatyn.
- Adyir Yemen limited.
- Saba company for oil and gas.