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Posts Tagged ‘Yemen’

Hunt Oil

Ray L Hunt

Encouraged by the North Sea discovery (the company had again found oil in an area others had passed over), Hunt Oil decided to further expand its search for new opportunities abroad. This led Hunt to the Republic of Yemen, an ancient nation with rugged geography believed by most to be devoid of oil despite its location on the oil-rich Arabian Peninsula. In 1981, Hunt Oil Company signed a production sharing agreement with the government of Yemen and began operations. The only active oil company in the region, Hunt discovered a major oil field in 1984. The company subsequently constructed a 423-kilometer (263-mile) pipeline across harsh mountains to the Red Sea, and Yemen joined the ranks of oil exporting countries reaching production levels in excess of 150,000 barrels per day. Large reserves of natural gas, estimated at 10 trillion cubic feet, have also been discovered.

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