Yemeni gov't announces deal to establish oil databank

2022-06-26 | Since 2 Month

Aden (Debriefer) The Yemeni official government has reached a deal with a US company to establish an oil databank in the interim capital of Aden, an official in the Yemeni oil ministry said Friday, in order to end the Houthi control of the databank.
The Yemeni oil ministry agreed with Schlumberger to resume activity in Yemen and start the establishment of oil databank in the Aden-based corporation for oil exploration and production, the official added in remarks carried by Saba.
The databank will help the ministry control information, restrict dealing with foreign and national oil firms, and encourage companies to invest and boost fiscal resources, the official said.
The bank will receive, check, process and analyze all the old and new oil information on activities conducted in all Yemen's oil sectors according to international applicable standards, he said.
"A complete database will be developed on oil industry, and technical works and studies on oil exploration and production will be carried out as part of the bank's duties."
Among the bank's tasks is to provide the oil ministry and corporation with information, the Yemeni official added.

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