almotamar-net - The Petroleum Exploration and Production Authority(PEPA) announced on Sunday new oil discovery by OMV
Austrian companyin al-Aqlah block S2, Shabwa governorate.
In a statement to Saba, chairman of the authority Nabil al-Qwasi said that the initial results of the block indicated that the amount of oilin is ranges from 50 to 173 million barrels and might be increased. He announced that the initial production is estimated at
5000 b/d andoil production will start in the second half of 2006 then it will be
increased up into 10000 barrels next year.
It is expected that the production will be increased up to 32,000 barrels by 2009, he said.
He considered this new discovery as key exploration in this block. He also confirmed the existence of oil in the basic rocks of Shabwa