(AFP) – Yemen's oil production will reach 500,000 barrels per day (bpd) in 2001, after work is finished on developing wells and several new oil fields go on stream, told the head of the oil ministry's exploration department, Nabil al-Koussi .
Nabil al-Koussi said that "Yemen forsees an increase in oil production following development works on certain wells and discoveries of several new oil fields in the country.”
Yemen's current production is almost 441,000 bpd and will top 500,000 bpd during the course of the next year, after a recently-discovered oil field in the province of Shabwa, 380 km east of Sanaa, goes on line.
Yemen, which is not a member of the Organization of Petroleum Exporting Countries, has stepped up its exploration and production sharing agreements with a number of foreign firms to raise its expected output.
© 2000 AFP
© 2000 Mena Report (www.menareport.com )