VP discusses final arrangements for exporting liquefied gas
The Source: /www.sabanews.net - 20/07/2009
Home \
Business News
Vice President Abdu Rabo Mansour Hadi discussed here on Monday with officials of the French Total Company the final arrangements to start exporting
The meeting also dealt with the underway activities in developing the exploration and production in the oil block No. 10 which its productivity will amount to 60,000 barrels per day (bpd). Total's officials informed Hadi that the company works sincerely to raise the production and continues its exploration and drilling activities in a number of areas, confirming that $ 1 billion has been allocated by the company for its investments in this field for the next three years. The meeting also reviewed the work progress in the gas-powered station that will be implemented to cover the power needs of Hadramout governorate, Total and Canadian Nexen Companies by using gas instead of 10,000 bpd of diesel consumed by the current electrical generators. Hadi affirmed that the special relation with Total is considered strategic for us in Yemen, especially that the company has a big investment and productive base, a matter which requires exerting more efforts to achieve the joint interests of the two sides. He also urged on paying more attention to producing energy from the gas accompanying the oil production processes. and marketing the liquefied gas. The French Total company is the project leader of the LNG project with about 39.62 percent. The share of Yemen represented by Yemen Gas Company (YGC) amounted to 16.73 percent. The other shareholders in the LNG project are Hunt with 17.22 percent, South Korean (SK) Corporation with about 9.55 percent, Korea Gas Corporation (Kogas) (6.00 percent), Hyundai Corporation (5.88%) and the General Authority for Social Security and Pensions (GASSP) with about 5.00 percent.
|