Tuesday, 12 October 2010

Yemen signs MOU with Kuwait Energy Company

Yemen's Ministry of Oil and Minerals has signed an MOU with Kuwait Energy Company to study Yemen's prospects in developing the country's natural gas reserves and optimising them for the benefit of Yemeni people.

Under the terms of the MOU, Kuwait Energy Company will advise the ministry on the most practical use and application of the country's natural resources to maximise revenue and increase employment. Kuwait Energy Company is expected to conduct the six months study at no cost to the Yemeni government.

The MOU was signed by Yemen's Deputy Oil and Minerals minister Ahmed Dares and Kuwait Energy CEO Sara Akbar. Yemen's Minister of Oil and Minerals Amir Al-Aydarus held further talks with Kuwait's CMD Manssour Aboukhamseen over co-operation aspects and expansion of exploration activities in several blocks. Aydarus said that the MOU will be followed with new gas development agreements based on the findings.

Source: Steel Guru

For more news and expert analysis about Yemen, please see Yemen Focus.

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