Yemen's oil fields eyed-up up by US and French companies

Published September 25th, 2012 - 09:57 GMT
The USA and France are planing oil and gas explorations in Yemen
The USA and France are planing oil and gas explorations in Yemen

Several US and French companies will to invest in oil and gas sectors in Yemen, diplomats said on Sunday.

The statement made by US and French ambassadors to Yemen Gerald Feierstein and Frank Julie during separate meetings with Oil and Minerals Minister Ahmed Dare's.

Feierstein said that the Yemeni government and oil ministry would be supported during the promotion of the promising investment opportunities, urging the international and US capitals and companies to benefit from the available investment offers in Yemen.

The US will present all support to Yemen to improve investment field via encouraging the Yemeni and American private sectors to create oil and gas investment partnerships, he said.

The US ambassador asserted his country's support for the Yemeni government's efforts to achieve the political and economic stability, saying such efforts aims to help Yemen to overcome the challenges hindering the reviving the economy.

On the other hand, the French ambassador Frank Julie said that many French companies intend to invest in the Yemeni oil and gas sectors, in addition to the willingness of the French companies working in Yemen to expand their exploratory and production activities.

The Minister reviewed with French ambassador the common cooperation in promoting the investment opportunities and prompting the French companies to invest in the oil and gas fields.

They stressed the importance of increasing the gas exploratory activities and to re-assess gas prices as well as creating new suitable and flexible mechanisms to cope with the changes in the international markets and meet the economic and development requirements in Yemen.

Dares renewed the government's welcome to all companies, saying that any company willing to invest in the country has only to begin its procedures and negotiations with the government, which would provide all possible facilities.


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