Yemen has Enough Oil, Bahah Says

Minister of Oil and Minerals Khaled Bahah told Al-Jazeera Satellite Channel that the monthly average of Yemen's oil exports reach 60 million barrels, hinting the production will mount to 330 million barrels per day (bpd) during 2008.

Bahah further denied the allegations that speak of the depletion of Yemen's oil sources and noted that 40 new blocs have proven to be productive, stressing it is natural that the production of some oil wells have shown a decrease over the last years especially when they have been producing oil for over 15 years.

He went on to say that his ministry is working in preparation for the fourth international tenders due to be conducted over the very few months, maintaining that over 40 companies expressed their readiness to explore 11 offshore blocs.

Though Bahah has in many occasions, tries to assert that Oil Ministry follows a transparent policy as to the volume of production, common people believe the ministry does not disclose the real volume of production in an effort to mislead them.

President Saleh announced earlier that Yemen's oil production is gradually decreasing and stated the country will witness the complete depletion of its oil sources by the year 2015.

The same thing was announced by energy experts who assure that Yemen's oil production is on the verge of depletion unless new blocs prove otherwise.