Nexen in Negotiations to Renew Operating License for Yemen Block

摘要

Canada’s Nexen is locked in negotiations with the Yemeni government over the renewal of its license to operate one of the country’s largest producing blocks, with Sanaa not ruling out a handover to a state-owned oil company, industry sources told Oil Daily on Wednesday. Nexen is pushing a five-year extension of its contract to operate Block 14 after it expires on Dec. 17, but sources say a temporary extension could be a short-term solution until the current political upheaval dies down and a longer-term extension can be agreed.