Prime minister heads HCE meeting

SANA'A, Jan. 03 (Saba)- Higher Council for Economy (HCE) held its
meeting on Saturday headed by Prime Minister Ali Mujawar, chairman
of the council.

The meeting discussed a report presented by the ministry of oil and
minerals Amir al-Aidaros on measures and protects of developing the
mineral resources, which have been prepared by the Geological Survey
and Mineral Resources Authority.

The report pointed out to the project of developing the mining
industries in Yemen especially in al-Jaof, Marib and Shabwa
governorates and a project of setting up a center to develop Yemeni
rocks in cooperation with the International Finance Corporation IFC
which aims at preparing a new law and tax system for mining as wall
as attract investments in minerals wealth.

In the meeting, the council approved a memorandum presented by oil
minister over request of DNO Company to determine the second phase
of oil exploration of two oil sharing agreements in block No. 47 in
Hadramout governorate for 12 months, and in block No. 44 in the
governorate for six months.

The memo also included request of Glow Oil Company to determine in
the second phase of exploration in Block R2 in Shabwa governorate
for one year.


The council also discussed a memo presented by the transport
ministry over acceptance to access Yemen into Protocol 1992 of
amending international agreement over establishing international
fund for compensations due to oil pollution of 1971.

The council formed a technical team of ministry of transport and
ministry of finance to study the topic technically and financially
to present a report to the coming meeting of the council.