Science to develop oil sector [Archives:2005/809/Business & Economy]
An official report by sources at the Ministry of Oil and Minerals mentioned that new oil explorations in a number of oil blocks, including blocks 43, 9, and 20, will be announced soon.
The report also indicated that an agreement was signed between the Yemeni Gas Company and the Korean Co-Gas Company under which Yemen will sell 3.3 million ton of the natural gas to South Korea. A number of international companies were also nominated to sell 2.5 million ton of gas to the US market and it is expected that the best company will be selected before the end of this month.
According to the report, the Ministry of Oil is due to inaugurate the Lead and Zink Mine in Nuhm shortly. The ministry sponsored during the last few years, in its framework of implementing the State's policy, a series of scientific conferences to bring forth database for the oil and mineral wealth in the country.
The most important conference was the one associated with the groove sedimentations Red Sea Aden Gulf. It was held in October,1995, while the first international conference for oil and gas in Yemen was held in June 2002. Both conferences contributed to the promotion of investment opportunities in the oil and gas sectors.
The Ministry of Oil issued in 1998 a scientific book under the title – Uniting the Biological Terms in Yemen”.
The first Yemeni oil refinery was established in 1954 in the city of Aden and was designed to produce 80