Calvalley-Reliance Consortium Discovers Oil in Yemen

A Calvalley Petroleum-led consortium, which includes Indian oil and gas firm Reliance and Yemeni-focused Hood Oil, has discovered oil in the Qarn Qayamah-2 well in Yemen’s hydrocarbon exploration Block-9, according to a report by The Economic Times.

The news source noted that the discovery is deemed considerable and the project partners are in the process of evaluating its commercial potential.

The Economic Times reported that Block-9 produces 10,000 barrels of oil per day. Calvalley is the operator of the block with a 50% stake, while Reliance and Hood Oil each own a 25% interest in the block.

Atul Chandra, Reliance Industries’s president for international business, as quoted by The Economic Times, said: “It is a significant discovery. We have discovered oil in Yemen and are in process of evaluating its potential.”