Minister of Oil and Minerals KHalid Bahah announced that a series of new oil agreements for 14 oil blocks will be signed next November.

 In his speech in a symposium on the present and future of oil, gas and minerals in Yemen, Bahah said that oil sector is promising and some new oil fields will start production in the beginning of 2007."The year 2007 will witness strategic activities and measures in oil and gas reserves," Bahah said.The head of Oil Exploration and Production Authority Dr. Ahemd Abdulellah reviewed efforts of the authority activities and the history of oil exploration in Yemen. Deputy chairman Eng Nasr al-Homaidi presented a paper dealt with the commercial oil discoveries in Masila and Marib basins as well as the first, second and third international bid for oil exploration in new open oil blocks as well as future oil exploration activities during the period 2007 to 2011."The last discoveries prove the existence of good storage of oil and gas in basement rocks," al-Homaidi said