Yemen Calls for Restoring Local Oil Production

Yemen Calls for Restoring Local Oil Production

The government of Yemen has called upon oil companies involved in exploration and production (E&P) to restart work based on the mutual partnership agreements, according to Asharq Al-Awsat.

The ministry also asked domestic and international oil companies to make Aden their base, by setting up permanent or temporary headquarters there, until the current conflict is resolved, as per a memorandum signed by the Yemeni Minister of Oil Aws Abdullah Al-Awd.

Yemen aims to increase crude oil production to 110,000 barrels per day (b/d) compared with a level of was 50,000 b/d in 2018, down from 127,000 b/d in 2014.

According to the US Energy Information Administration (EIA), Yemen has around 3 billion barrels of proven oil reserves. With two primary crude oil streams, light and sweet Marib, and medium-gravity and more sulfur-rich Masila.



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