Yemen increases petroleum production

Yemen will attempt during the coming period to increase its raw petrol production, according to Minister of Petrol Mohamed El-Khadem.

Production from live fields directed by the French company Total, averages 20,000 barrels and could be increased to 50,000 barrels by the middle of next year.

Representatives of 5 specialized Indonesian companies arrived in Sanaa to negotiate with officials in the Yemeni Petrol Ministry concerning investment chances in undiscovered sectors. The Indonesian companies would like to reach agreements wtih Yemen within the week.

The Yemeni government will have participation treaties, granting privileges for new petroleum companies, to improve production.

It is worth noting that there are many foreign companies that drill for petrol in Yemen among which are American, Italian, British, Canadian and French companies.

Sales of oil production reached $1.929 billion dollars in 1996 withYemen's share at $904 million dollars with the rest going to the producing companies.