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Issue 30
, 2010
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Yemen signs MOU with Kuwait Energy

Source: Steel Guru, Date: , 2010

The Yemen Ministry of Oil and Minerals signed MOU with Kuwait Energy Company, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, whereby Kuwait Energy will conduct 6 month study addressing the potential development of natural gas reserves in Yemen and the optimization of the country's natural gas resources for the benefit of its people.

Under the framework of the MoU, Kuwait Energy Company will advise the Ministry on the most suitable uses and applications for the country's gas resources in order to ensure production sustainability and maximize revenue generation and job creation. Kuwait Energy will be conducting this 6 month long study at no cost to the Yemeni Government or its people.

The MoU was signed by Mr Ahmed Dares deputy oil and minerals minister of Yemen and Ms Sara Akbar deputy chairman and CEO of Kuwait Energy.

Mr Amir Al Aydarus minister of oil and Minerals of Yemen held talks with CMD Dr Manssour Aboukhamseen over cooperation aspects and expanding the Company's exploration activities in several blocks.

Mr Aydarus said that the Memorandum will be followed with new gas development agreements based on the findings and new insights that we will gain from the study KEC.