Tuesday, 19 October 2010

Yemen says has 11.9 billion barrels of oil reserves

Source: official Yemen news agency( Saba)
SANA'A-Yemen has 11.9 billion barrels of oil reserves at oil production fields, head of the Petroleum Exploration and Production Authority (PEPA) has said.

Nasr al Humaidi said the figure was based on the study the authority had conducted on the reserves, saying the study leads to a conclusion that more efforts should be made at these blocks to complete producing these reserves.

Using modern technology will help report higher figures of Yemen's oil reserves in the future, he said.
Exploratory operations at the blocks are concentrated and the current production and exploration operations cover 25 per cent of the total blocks with geological structures suitable for oil and gas presence, he said.
The operations are being implemented at 35 blocks, while Yemen has about 100 blocks, he made clear.

There is still a lot of work ahead of us and Yemen remains at the beginning as an oil producer country, he said.

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