Yemen and Russia discussed on Monday preparations to hold a meeting to display promising opportunities in the Yemeni energy sector, at a time when Yemen is seeking to attract more foreign oil and gas firms.
The discussion took place at the meeting that gathered Yemen's Oil Minister, Hisham Sharaf, and the Russian ambassador to Sanaa, Sergei Kozlov, the Yemeni official agency Saba reported.
The meeting will be held in the future, the agency said.
"Studies have indicated Yemen has large oil, gas and mineral reserves, encouraging the country to Russian investors and firms and to expand its economic cooperation with Russia, especially in the energy sector," Saba quoted Sharaf as saying.
Yemen is currently exerting major efforts to help oil companies to resume their operations, including those which left the country when the popular uprising erupted last year and those which have stopped operations because of the shutdown of the Marib pipeline.
"Efforts are underway to repair the Marib pipeline, which stopped several months ago," Sharaf said, according to Saba.
The Marib pipeline, about 438 km, carries about 120.000 b/d from the Marib and Shabwa oilfields to the Ras Isa terminal in the west.
This crude is processed by the Aden Refinery and is locally consumed. The pipeline was repeatedly attacked last year and its continuous shutdown has been causing big losses to companies.
Over the past days, Sharaf has been meeting with some ambassadors including the US, French and Chinese envoys, to discuss how to attract
more foreign oil and gas firms.
Yemen continues to depend on the oil revenues, which make up more than 70% of the state budget.
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