Yemen produces over 100 million oil barrels in 2008
The Source: sabanews.net - 01/09/2009
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Yemen has produced about 107,415,000 oil barrels from 12 oil blocks in 2008, the GPC-run al-motamar.com reported on Monday. A report issued by the Ministry of Oil showed that the minimum monthly production reaches 8,384,000 barrels in November 2008 and the maximum monthly production was 9,653,000 barrels in January.Al-Masillah block No. 19 ranked the first in oil production with 34,663,000 barrels (32 percent) and followed by block No. 18 in Marib and Jawf governorates.Oil production reduces in an average reaches 10 percent yearly.The government expects to complete the Liquefied Natural Gas LNG project and to export the first gas shipment before the end of 2009.Oil and gas production started in Yemen in 1986 with production levels remaining within the region of 320,000 barrels per day in 2008.The proven gas reserves in Yemen are sufficient to produce and export 6.7 million metric tones of LNG per annum (mmtpa) for at least the next 20 years to its long-term customers in the North American and South Korean markets and potentially also to new customers in the future.The reserves within the Marib area which are currently dedicated to the project include 9.15 trillion cubic feet (TCF) of proven reserves with 1 TCF allocated for use in the domestic market, and an additional 0.7 TCF of probable reserves.The project, which is 40 times greater than the average Yemeni large-scale investment, will be one of the top contributors to the macro-economic growth and industrial development of Yemen over the coming years.
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