ENERGY
From Times Staff and Wire Reports
Occidental Acquires New Interest in Yemen: Occidental Petroleum Corp. said it has acquired an 18% working interest in the contract covering the 6.8-million-acre Masila Block in Yemen, where Canadian Occidental Petroleum Ltd. has made three oil discoveries. Occidental’s 18% share is made up of an 8% interest acquired from Canadian Occidental and 10% from Consolidated Contractors International Co. In addition, Occidental, through an agreement with Canadian Occidental, will earn a 39% interest in an unexplored 2.8-million-acre portion of the Masila Block upon completing a 500-kilometer seismic program.
