Yemen newly appointed Oil and Minerals Minister, Khaled Mahfouz Bahah has called on Britain to increase its footprint in Yemen by considering making substantial investment into the country’s oil and gas industry. Although not considered a heavyweight oil and gas producer, Yemen has proven in recent months that its natural resources reserves have thoroughly under-estimated and more importantly under-valued, thus making the impoverished nation a valuable asset for wannabe investors.
Keen to capitalize on Yemen’s potential and attract much needed cash, Minister Bahah told British Ambassador, Jane Marriott during a meeting that he was currently working on new approaches as to improve Yemen’s investment outlook from a security standpoint. Minister Bahah insisted he wishes nothing more than to develop Yemen and the UK bilateral relations.
The minister wants to put Yemen back on the map by offering interesting opportunities for foreign investors in the oil and gas sector. Minister Bahah who hailed Britain’s efforts in enabling Yemen to manoeuvre the troubled waters of its power transition called on stronger economic and investment ties as Yemen enters the final stage of its institutional overall.
With both eyes set on the future, Minister Bahah wants to usher an oil renaissance of sort by streamlining Yemen’s potential and thus maximise profits.
The British Ambassador stressed Britain would continue to support Yemen as it continues to make headways toward political stability and economic self-sufficiency. She noted, “A lot of organizations are looking to find suitable opportunities and quick steps to implement programs development in various fields.”