[31 October 2007]

DUBAI, (Saba)- Minster of Oil and Minerals Khalid Bahah called on international oil companies to exploit opportunities of investment in oil and gas sector in Yemen.

In a symposium organized in Dubai over Yemen's Fourth International Bid Round of oil offshore blocks, Bahah affirmed that the competition in this tender is open for all, saying that Yemen would offer all insurance for investors in accordance with law.

"Priorities would be for those who apply first, we introduce these opportunities to you," he said.

Chairman of The Petroleum Exploration and Production Authority of Yemen Nasir al-Humaidi offered a presentation on reality of the oil and gas sector in Yemen and the big available opportunities of investment in this key sector.

He pointed out to the map of the 11 offshore blocks in the country which are open for investment in front of international companies, giving an explanation about future of oil industry in Yemen and further details about the this tender round.

AH/AM

Saba