The Yemeni Minister of Oil and Minerals, Rasheed Saleh Baerbaa, revealed that Yemen signed two memorandums of understandings with a consortium of American-Saudi companies to excavate for oil and gas in Yemen, reported Al-Hayat . The companies involved will execute oil and gas exploration operations in the Yemeni districts of Shabwa and Mareb. These companies were committed to invest at least $29 million in these operations over the next six years. Baerbaa also announced that Yemeni oil production will rise to 475,000 barrels per day in 2002. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
