Total: Yemen to export 6.5 million tons of gas [Archives:2005/815/Business & Economy]
During a recent meeting between the Yemeni President and the president of the French company Total, the latter Yemen could soon be exporting 6.5 million tones of liquefied gas.
This development comes after an agreement was reached for selling the gas to a number of Korean and European companies.
The Total president also said that an agreement was concluded to sell 2.5 million tons of liquefied gas to a Belgian company, two million tons to Korea Gas Corporation (KOGAS), and two million tones to Total. He says that the next stage of the project is to finalize arrangements for the exportation of Yemeni gas by building the necessary installations.
The Yemeni president confirmed his support for the completion of the project, renewing his welcome for French investments in Yemen.
Yemen is also seeking to increase its present oil production, which already exceeds 450 bpd. It has granted seven new oil sectors to international companies. Sources in the oil industry told The Yemen Times that these sectors are located in the Mareb-Shabwa basin, and in an area near the Omani border.
The Ministry of Oil says that it is working on granting big facilities to investors for search and exploration of oil and gas in areas in the Red Sea and the Arabian Sea.
Oil minister Rashid Saleh Barabah says that the Australian Oil Search Company, working in Sector 15 in the Arabian Sea will be digging two wells in the last quarter of this year. Mr Barabah added that his ministry will dig between 100 and 120 exploratory wells this year, mentioning that Yemen is looking for international companies to take part with local investors.