Invest in Yemen - Oil

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Accounting for 92% of exports and 30% of GDP, Yemen’s oil sector is by far its most vital. As of January 1, 2010 Yemen had 3 billion barrels of proven reserves (Source: Oil and Gas Journal), and plans for new sites and exploration have only intensified. In September 2009 Yemen’s Petroleum Exploration and Production Authority evaluated 9 new oil discoveries in 7 fields; it expects new oil discoveries in 42 other oil sectors in the 2010 to 2015 period.

Currently, Yemen's oil reserves and production are located in 5 main geographic areas: Jannah and Iyad in central Yemen, Ma'rib-Jawf in the north, and Shabwa and Masila in the south. All production comes from 2 main sedimentary basins, Marib/ Shabwah and Say'un/Masila, out of a total of 12 basins believed to hold reserves.

Fuel exports in Yemen demonstrate the industry’s market dominance
Source: SESRIC


Prices and markets
Market prices favored the oil industry in 2010. Oil revenues in the first five months of the year rose sharply to USD $1.132 billion from USD$483.24 million for the same period in 2009. January-May exports also increased, amounting to 14.46 million barrels or a 40 percent increase from a year earlier. (Source: Central Bank of Yemen, 2010). 
China and India are the main export markets for Yemeni crude and, in 2008, Asian countries accounted for 76 percent of the country’s exports. 15 percent was exported to Arab countries and the rest to separate regions (US Energy Information Administration, 2010).
Key Strengths:
In addition to its very important and uniquely central position at the top of Yemen’s economy, the oil sector provides more key strengths contributing to its already attractive investment environment. These include:
  • Favorable production sharing agreements with contractual parties
  • Abundant, experienced labor collecting a competitive income of USD $160/month 
  • Strong global demand for petroleum energy, particularly amongst its current Asian partners
  • Sound infrastructure, international private sector presence, and full government support
  • High capacity terminals and pipelines in Ash Shihr, Bir Ali and Rass Issa


Top International Energy Companies Currently Operating Out of Yemen
safer E&P Operations Total E%P Yemen Jannah Hunt Oil Co. DNO Yemen
Dove Energy Ltd. Korean Natl Oil Co. Occidental Petroleum Canadian nexen Yemen
Calvalley Petroleum Ltd. OMV Gallo Oil Yemen Inc. MOL Yemen Inc.
Oil Search Middle East CCC Yemen SINOPEC (China) Midas for Oil and Gas
ENI Energy Epsilon Energy Ltd Reliance Kuwait Energy

GIA can Help

The oil sector in Yemen is a well established lucrative industry for investors to consider. GIA will help investors learn more about oil related opportunities and, when possible, establish contact with the various Yemeni institutions, associations and corporations responsible for energy management and growth. These include: the Ministry of Oil and Minerals, the Yemen Petroleum Company, the Petroleum Exploration and Production Authority and the Yemen Refining Company. For further information on oil opportunities, please contact GIA’s sector expert in the field:

For further information on oil opportunities, please contact GIA's sector expert in the filed:

Name: Mr. Mohammad Al-Farzaiy
Position: Head of the Industrial Sector
Language: Arabic
Tel: 967 1 262 962 / 260 120
Fax: 967  1 262 964
Additional Investor Information
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4FACT_SHEET_Information_on_Oil_Pipelines&Terminals.pdf 0 Kb
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