Business & Economy
Written By: Yemen Observer Staff
Article Date: Sep 24, 2012 - 8:22:19 PM
Prime Minister Mr. Mohamed Salem Basendwah met on Monday with the delegation of the French oil and gas company, Total, that is currently visiting Yemen headed by Arnaud Bruyak, Total Vice President.
Yemen Prime Minister Mohammed Salem Basindwah and Arnaud Bruyak, Total Vice President discussed mechanisms to promote Yemen's benefits from the financial returns of liquefied natural gas project on Monday in Sana'a.
During the meeting, they discussed areas of joint cooperation in the field of oil and gas, and the functioning of Yemen Total company in its regions of privilege in the field of oil exploration and production and in the development programs which the company intends to implement during the coming period, in addition to the workflow of the LNG project led by Total company.
The meeting discussed mechanisms to promote Yemen's benefits from the financial returns of liquefied natural gas project, being the most vital project among the largest investment projects in the country, including the reconsideration of Yemeni gas sale prices in order to achieve fair benefits for the country and the company.
The head of the delegation of Total confirmed in this regard that the company will offer the best sale prices for the of Yemeni liquefied gas in the coming period, and according to international prices.
The meeting dealt with the promising investment opportunities in the areas of oil and gas in Yemen, according to indicators of scientific and field studies in this aspect, and aspects related to devote atmosphere of security and stability, thereby helping to attract more investment, and to provide security protection needed for existing projects especially for installations of oil and gas.
The Total delegation briefed PM on the company's plans in Yemen and efforts to develop and expand their activities of oil and gas exploration and production during the coming period, using new and modern technology. The delegation also pointed to Yemen's potentials in the oil and gas fields along with the promising indicators in this aspect.
The meeting was attended by Minister of Oil and Minerals Ahmed Daris, Chairman of the oil exploration and production engineer Nasr al-Hamidi, General Manager of Total Yemen Exploration and Production Hatem Nuseibeh, General Manager of Yemen LNG Francois Ravan, as well as General Manager of business development and sectors operating within TOTAL Yemen Mohammed Ajina.
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