Press Review [Archives:1999/36/Press Review]

September 6 1999

Intensified arrangements are on-going in the Ministry of Oil and Mineral Resources for the first conference of the Yemeni oil promotion which is scheduled between 27th September until early October, in London and Houston. Mr. Nabeel Al-Kousi, the Deputy Chairman of MOMR declared that the conference will be attended by approximately 80 companies from Europe, USA and Japan. The Yemeni delegation will be headed by the Chairman of MOMR. During the conference he will discuss several issues said to deal with the full details of the exploration and production of oil in Yemen. The work also includes the nature of investment in the Yemeni oil sector. Mr. Al-Kousi added that the marketing of 7 promising blocks will be also discussed during the conference which are blocks 25,26, and 27 in Hodeidah, blocks 6,7,28 in Shabowah and finally, block 38 in the Soqatra Island. The Chairman of MOMR will invite the interested companies to participate in the oil tenders, which will be announced at the end of the conference.
2- Spanish loan to support the fourth energy project in Yemen
On Thursday, 2nd Dec.1999, the Minister of Electricity and Water, Mr. Ali Hamed Sharf returned back home after a successful business trip to Spain, during which he conducted talks with relevant Spanish parties. During the meeting, he signed several agreements of bilateral cooperation, between both countries in different fields. As per the agreements , Spain will grant a loan of US$18 million to support the Fourth Energy Project, that will provide Amran, Al-Mahuit and Hajah districts with electricity. Yemen also obtained a primary agreement from Spain of a loan worth US$30 million in the near future. Also, a Spanish company has been selected to implement the electricity project in Al-Sadah Al-Naderah area, which is planned to start on 15th of the current month.