Fresh strategy for oil transformation

SANA'A, Nov. 06 (Saba) - A new strategy for oil transformation got
underway and that is being prepared with support from international
companies, deputy minister of Oil and Minerals has said.

Ahmed Abdullah Daris said it follows a study on oil and gas reserves
in the country that was conducted under a decision by the Supreme
Economic Council.

Daris was quoted by the weekly September 26 as saying the oil
reserves total 10.9 billion barrels in Yemen.

He added that a comprehensive vision has been provided to promote
the role of the mining sector in economic development.

A mining tax system and an information center have been set up to
serve investments and facilitate the work of investors in the
country.

Daris said the ministry is working to implement the
president Ali Abdullah Saleh's electoral program through using oil,
gas and other minerals as well as finding solutions to the diesel
crisis.

Among the other issues the ministry is concerned with are, petroleum
training, new refineries and daily oil production, he said.