Yemen and Kuwait agree to implement oil MoU

Yemen and Kuwait have agreed to put a previously signed oil Memo of Understanding (MoU) in place through practical steps and a set timetable. The move was taken during the meetings of the Yemeni-Kuwaiti Oil Committee.
The MoU was hammered out between the oil ministries of Yemen and Kuwait in 2003 for bilateral cooperation in the fields of oil, gas, minerals and personnel training.

Yemeni Minister of Oil and Minerals Amir Al-Aydarus hailed the step, saying that several Kuwaiti companies are operating in Yemen. For his part, Kuwaiti Oil Ministry's Planning and International Relations Chief Ahmad Al-Harbi said his country is keen on ensuring the implementation of the MoU and broadening the scopes of bilateral cooperation.
During the meetings, the joint committee stressed the importance of further reinforcing bilateral cooperation in the fields of oil and gas exploration and production.

It also discussed possible opportunities of investment in the mineral sector in Yemen, and Yemeni investment incentives to Kuwaiti companies. In the field of personnel training and rehabilitation, both sides agreed to exchange personnel visits to both countries' oil facilities.
They further vowed to work together to ensure stability at the international oil markets through fair and stable oil prices.