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Yemen Welcomes Kuwaiti Oil, Gas Investments

Source: KUNA 11/27/2012, Location: Middle East

Yemeni Oil and Minerals Minister Ahmad Abdallah Daris said that his government welcomed Kuwaiti oil and gas investments in the country, including its minerals resources. The remarks by the minister came during his meeting with Nizar Mohammad Al-Adsani, Chairman and Managing Director of Kuwait Foreign Petroleum Exploration Company (KUFPEC), a subsidiary of Kuwait Petroleum Corporation (KPC).

Daris added that Kuwaiti investments would be supported to bring about success through its programs and investment activities. The minister also praised His Highness the Amir of Kuwait's guidance and Kuwait Minister of Oil for his efforts in supporting Kuwaiti investment in Yemen, including the establishment of strategic partnership which contributed to bolstering relations.

According to Yemen News Agency (SANA), the meeting tackled various investment opportunities on oil, minerals, and gas fields in Yemen. For his part, Al-Adsani said that the visit aimed at getting acquainted with investment opportunities based upon directions by His Highness the Amir to Kuwaiti investment firms to invest in Yemen. The Kuwaiti official noted that KUFPEC would seize investment opportunities of oil, gas, and minerals sectors, including off-shore fields in Yemen.

Al-Adsani added that he was carrying a message from the Kuwaiti Oil Minister regarding preparation by the ministry to train Yemeni cadets and exchange experience in oil field.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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