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Author: Fakhri Al-Arashi
Publisher & Chief Editor
Category: Business & Economics, Date July 8th, 2012

Total looks to conduct exploration activities deep in Red Sea



National Yemen

Engineer Hatem Nosaiba, General Manager of Total Company in Yemen

By NY Staff

Engineer Hatem Nosaiba, General Manager of Total Company in Yemen, recently spoke about plans to carry out gas and oil explorations in the deep waters of the Red Sea. “We have recently studied possible investment projects that can be carried out in the near future; at the same time, other exploration projects by the company will not stop,” he stated.

In a statement, Nosaiba said Total Company is considered to be the largest foreign investor in Yemen and that it has carried out a great deal work in production and exploration over the last five years. He added that the company has large investments in Yemen and seeks to expand its exploration of oil, gas and minerals in new areas.

According to Nosaiba, many operations carried out to explore oil in water are successful – especially those that were conducted in southern Africa, even though no-one expected them to succeed. “Many companies tried to find oil in the Red Sea; according to geologists, geology changes over and we are considering their opinions,” he noted.

Nosaiba stated that the company would be among the first companies to carry out deep water explorations. He also said company representatives constantly discuss the issue with oil ministry officials, who always request that they expand their activities.

Different countries and international companies have sought fresh alternatives to oil and have attempted to develop non-traditional sources of power through seeking oil and gas in deep sea waters.

Saudi Minister of Oil Ali Al-Na’eemi announced in September 2011 that gas had been found in the Red Sea and in the Empty Quarter. In addition, on May 17, 2012, Saudi-Aramco company sources revealed that the company had allocated $25 billion for a huge project which aimed to develop Red Sea oil fields. Digging for the first well is expected to begin in late 2012.

The sources reported that the proposed project had yielded positive prospects, with estimates suggesting the Red Sea contains around one billion barrels of oil. In this regard, a company official noted that they are very optimistic about the possibility of locating huge amounts of energy resources in the Red Sea and that searching for them has always been one of Aramco’s goals.

“The Red Sea was not an area targeted for oil and gas exploration operations by the Saudi government but the population increase and a need of new sources has pushed the company towards the Red Sea,” stated the source.

Yemen previously announced the availability of huge amounts of gas in the Red Sea.

Yemen tops Middle Eastern countries which oversee marine areas, with the Red Sea, Aden Gulf, the Arab Sea, and the Socotra Islands. The board divided the marine areas after conducting a number of studies which proved the existence of promising geological areas in the sea.

In addition, reports have revealed that old exploring operations helped Yemen reach the top of Middle Eastern countries in attracting oil companies and that it is witnessing a great deal of activity in this sector. The Yemeni government announced two years ago that they had commenced exploration operations, but didn’t announce any results until the present time, even while reports had verified the availability of gas deep in Yemeni waters



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