Kerr-McGee signs PSA in Yemen

Mar 13, 1997 01:00 AM

Kerr-McGee Yemen Ltd. has signed two production sharing agreements with the Ministry of Oil and Mineral Resources of the Republic of Yemen and The Yemen Company. Kerr-McGee Yemen Ltd., wholly owned by Kerr-McGee, will be the operator of the blocks covering approximately 10 million acres. Designated as East Al Hajar (Block 51) and Hazar (Block 50), Kerr-McGee will have a working interest of 87.5% in Block 51 and 95% in Block 50.
"We are excited about the potential in these two areas and pleased to have this acreage as we establish an exploration position in Yemen," said Luke Corbett, chairman and chief executive officer. This brings Kerr-McGee's gross undeveloped acreage world wide to over 16 million acres.

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