SANA'A, July 02 (Saba)- Ministry of Oil and Minerals said that $ 1.15 billion was paid for development, operation and exploration in oil sector last year.

According to the annual report of the ministry, 107 oil well s were drilled last year at sum of $ 445 million.

The report showed that new oil wells produce 50,723 barrels per-day and around 373 wells have been maintained at $ 57 million.

During 2007-2008, some blocks witnessed discovery of new gas and oil explorations.

Minister of oil and minerals Amr al-Adaros told Saba that number of exploration blocks increased up to 39 blocs for first time in the history of Yemen.

Al-Adaros made it clear that there are further promising oil explorations.

Last year, Yemeni oil production was 107 million barrels at 293,486 barrels per day.

In 2008, the rate of oil revenues was 76 percent of the total state revenues, 90 percent of Yemeni exports and 30 percent of domestic gross product

AH