Yemen, WB discuss oil, minerals cooperation
The Source: SANA'A\Hadhramaut\Saba - Sunday -27/April/2014
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Yemen and World Bank (WB) discussed here on Sunday aspects of joint cooperation in fields of oil and minerals. During their meeting, Oil and Minerals Ministry Undersecretary Shawqi al-Mekhlafi reviewed with a WB delegation several topics, particularly how to manage financial and investment aspects in oil and mineral fields.
Al-Mekhlafi asserted Yemen's keenness on establishing a real partnership with WB to underpin the principles of good governance and raise competence of wealth exploitation in order to enhance investments in oil sector.
He reviewed the Ministry's efforts to develop oil blocks, increase production, assess reserves and manage promotion of promising block, as well as the concerned bodies' efforts to find a suitable investment environment that enable the Ministry and companies to carry out their investment plans.
Al-Mekhlafi also indicated to the efforts made to restructure the Ministry and its affiliate bodies and to establish a national petroleum company for oil exploration and production and a national company for minerals.
The WB delegation expressed the Bank's readiness to cooperate with Yemen and to provide all assistance to improve the partnership between the Oil Ministry and the Bank.
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