Nexen Inc says has 12 million barrels of reserves in Yemen

SANA'A, Feb. 25 (Saba) - The Nexen Inc Oil Company has announced
that its reserves of oil at the two blocs it is operating in Yemen
are estimated at 12 million barrels.

The company expects its annual production during 2009 to be
40.000-450.000 barrels.

In a statement, the company noted that it invested about $ 101
million in oil production operations in the country over 2008,
affirming the company assets in Yemen are large.

However, the company said that it wants extra funds that can
exceed its basic capital, adding it will continue to increase its
assets under a contract it had signed with the Yemeni government.

The Nexen Inc Company is a Canadian-based global energy company that
has been investing in Yemen for over twenty years. Currently, the
company is producing oil at the blocs 14 and 51 in the eastern
province of Hadramout.

FR