Yemen's New Oil Discoveries to Boost Investment

The Yemeni Ministry of Oil and Minerals said that the recent explorations in many oil sectors gave positive indications about availability of oil and gas in the south and east of the country. "These indicators on the availability of large quantities of gas made the ministry to accelerate preparing an attachment accord to the previous agreements that sealed with the foreign oil companies operating in these sectors," Minister of Oil and Minerals Amir al-Aidarous said.

According to the minister, the recent discoveries of the large quantities of gas were located in southeast provinces of Hadramout and Shabwa and in the northeast province of Marib. "We are now preparing to announce the approved investment oil and gas companies which offered the best investment bids to explore in those new discovered oil and gas blocks," he added. - Newsytocks