Yemen to increase oil production up to 500,000 barrels |
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Yemen will increase its oil production to 500,000 barrels daily by 2010, advised Minister of Oil and Minerals, Khaled Bahah, last Wednesday.
In a statement to Saba Bank, Bahah said that the ministry is still working to improve the current production blocks and develop new exploratory wells to raise the production in addition to attracting further international oil companies to invest in the country.
"The current level of oil production decreased from 438,000 barrels per day in 2002 to 317 barrels per day in 2007", added the minister, pointing out that the year 2008 will be a critical one for minerals through extending petrochemical production and transforming industries.
Bahah revealed that the ministry is to launch new refineries in Yemen, saying that the ministry works to increase the proportion of Yemeni workers in oil companies to 90 percent.
"Last year, the rate of Yemenization of work forces was more than 85 percent," he added. He concluded his statement by saying that the Ministry of Oil and Minerals is working to produce fuel oil with zero lead content.
By Observer Staff
© Yemen Observer 2008
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