|Yemen has many opportunities for natural gas investments

Mar 15, 2004 01:00 AM

Yemen’s natural gas reservoir is estimated at 16.34 tcf, and its reservoir of liquefied gas at about 43 mm tons, according to officials.
Najeeb al-Aouj mentioned that there were many opportunities for investment in the area of natural gas.

The deputy director-general of the Yemeni company for gas said opportunities lay in four areas:
-- exploitation of the natural gas locally as fuel for factories, means of transport and energy generation,
-- investment of the natural gas as fuel for cooking and heating in some cities,
-- investment of natural gas as raw material in petrochemical and fertilizers industries,
-- development of infrastructure for the building of industries that depend on gas, by the establishment of natural gas network of pipelines throughout the country.

The Ministry of Oil and Minerals encourages investment in the petroleum, presently being produced at sector 18. Its daily productive capacity is 1,630 tons under the supervision of the Yemeni company for gas.
Official figures state that the average local consumption of gas is increasing due higher demand because of the rise in population while the production of petroleum is decreasing yea by year. A study conducted by a New Zealand company expected that the increase in consumption during the years 2004 till 2022 would be around 4 %.

A quantity of gas has been provided for the project of natural gas estimated at about 10.20 tcf. The project that is composed of a unit for liquefaction is situated in Beljaf seaport on Aden Gulf with a production capacity of 3.1-3.45 mm tpy.
The project is also designed to have two major operative units for each production line. It has gas pipelines including the main pipeline from Mareb to Beljaf with a capacity of 150 mm cfpd and to the branch line from Mareb to Sana’a with the capacity of 100 mm cfpd. The project’s cost is estimated at $ 2.2 bn.

Source: Yemen Times ||Iraqi delegation visits Saudi Arabia for oil cooperation talks 15-03-04 Iraq has sent a delegation to Saudi Arabia to discuss oil cooperation and participation of Saudi companies in the reconstruction of the country's oil facilities, an official at the oil ministry said. Oil ministry spokesman Assem Jihad said senior adviser Abdul Sahib Qutob left for Saudi Arabia heading an Iraqi delegation to chair a joint committee set up by the two countries in December.
"He will discuss the possibility of setting up joint oil and gas projects and the role of Saudi companies in restoring Iraq's oil installations," he said.

Qutob's visit is the second by a senior Iraqi oil official since the US-led coalition ousted the government of Saddam Hussein 10 months ago. In December, Oil Minister Ibrahim Bahr al-Uloum visited the kingdom and met with his Saudi counterpart and other senior officials.
Saudi Arabia has taken control of an oil pipeline between the two countries which has been out of operation on the Iraqi side since Saddam's 1990 invasion of Kuwait. Saudi Arabia's OilMinister Ali Naimi told earlier that the pipeline isn't available for Iraqi oil export any more. He said Saudi Arabia "acquired ownership" of the pipeline in June 2001 and immediately started to put it into service supplying natural gas to the Yanbu region on the Red Sea.

Iraqi oil officials are seeking alternative routes for the country's oil to increase export flexibility despite diversifying its routes to include Khor al-Amaya at the head of the Persian Gulf near the Basra oil terminal, formally known as Mina al-Bakr. The reopening of the Khor al-Amaya terminal earlier has increased Iraq's export from southern oil terminals to 1.8 mm bpd from around 1.4 mm bpd in February, officials said.
Baghdad has also resumed exports from the northern Iraq-Turkey pipeline after a year-long suspension due to a wave of sabotage along the pipeline. The pipeline is currently pumping between 260,000 bpd and 300,000 bpd, which is half of its pre-war capacity.

Source: Dow Jones
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