Multi-million dollar investment opportunities in upstream exploration and production,
product transportation, downstream refining, petrochemical and power projects.
OILWith proven reserves of approximately 2.82 billion barrels, oil production activity has been increasing in recent years due to low oil production costs and improved investment conditions. Yemen currently produces between 285,000 and 295,000 barrels per day with the government seeking to boost production to 300,000 barrels per day by the end of 2010 through modernisation of the Aden Refinery. Negotiations to update the Aden Refinery are aimed at increasing the daily production of the refinery from 70,000 – 80,000 barrels to 150,000 and 500,000 barrels.
Gather first hand technical information about exploration blocks on offer and those about to come online to international oil companies and the terms of investment.
GAS
The global trend toward clean energy has transformed the prospects for a variety of gas and related projects in the Middle East. With natural gas reserves of 16.9 trillion cubic feet, Yemen has considerable potential as a natural gas exporter. Success in developing the liquefied natural gas sector is likely to increase opportunities for further natural gas exploration and production. LNG exports are projected to offset Yemen’s falling export revenues in 2011 when the countries LNG project reaches full capacity. Yemen’s first LNG plant went online in October 2009 at the port of Balhaf on the Gulf of Aden. In 2009, Yemen exported 18.9 million cubic feet of LNG.
The government is engaged in negotiating changes to approved production sharing agreements with oil companies operating in the country aimed at encouraging natural gas exploration, production and development. Agreements contain, for the first time, the principle of gas production and use sharing.
REFINING
Yemen currently has crude refining capacity of 140,000 bbl/d from two refineries up from 130,000 bbl/d in the early 2000s. The 130,000 bbl/d Aden refinery is operated by Aden Refinery Company and the 10,000 bbl/d Marib refinery is operated by Yemen Hunt Oil Company. The government is currenly in talks to upgrade the Aden refinery. IN November 2009, it was reported that a contract was signed for the modernisation of the Marib refinery to increase its capacity from 10,000 to 25,000 bbl/d.
PETROCHEMICALS
The future looks particularly healthy for the development of the petrochemical sector in Yemen. With agriculture being a pillar of Yemen’s economy, the Ministry projects rapid growth in local demand for fertilizers and points to the availability of large reserves of natural gas as feedstock. The Yemeni Oil Refinery Co. has been encouraging investment in linear alkyl benzene (LAB) plants.
In addition, a positive demand forecast for chemical products will undoubtedly add Yemen to the growing list of successful petrochemical ventures in the Middle East. Governmental official will be presenting major projects open to international investors.
POWER
In the past 3 years, companies committed to power projects in Yemen have been on the rise. Strategic alliances have been established to assist with the development of energy projects the Republic. While Yemen continues to face serious power shortages, Senior Ministerial officials will be examining the current demand for power in Yemen.
MINERALS
Mineral resources in Yemen have not been fully exploited and the Republic of Yemen is working to develop a practical vehicle for encouraging mineral exploration activities within the country. Predominately know for its oil and gas, and further to those reserves, mineral deposits such as zinc, iron, lead, gold, silver, copper, sulfur and nickel exist. The promotion of mineral exploration is being encouraged by the government and Ministerial officials will be on hand to discuss their plans for encouraging exploration into this untapped natural resource.