Business

PEPA develops strategies for 2013

National Yemen

Nasser Al-Humaidi

The Petroleum Exploration and Production Authority (PEPA) will hold its annual two-day meeting starting on 6 January. The meeting is sponsored by the Ministry of Oil and Minerals. Attendees will discuss oil sector successes and set-backs over the past two decades.

Authority Head Nasr Al-Humaidi said the meeting corresponds with a boom in the oil sector, which is seeing huge growth. Petroleum exploration is witnessing a turning point, he said.

The industry has also faced challenges and difficulties, Al-Humaidi said, but he is confident that the industry can move beyond the difficulties to achieve the Authority’s aims.

The country’s political leaders have given the industry their trust and the Authority will work hard to achieve its goals, he said.

“The objective of this meeting is to review the activities of the Authority and to provide a clear vision about its role in the process of development,” he added.

This industry helps stimulate country’s economy, Al-Humaidi said, in addition to attracting international petroleum exploration possibilities and investment in the oil sector. Also on the agenda for discussion, the Authority wants to explore what kind of relationships should be built between the oil sector and government officials.

Another item of discussion will be the capacity of the Authority to develop Data Bank, the largest digital oil bank.

Over the past two decades, the Authority has achieved success with its supervision of and oil sector in the country. This sector has been developed in terms of quality and quantity at the institutional and human resources level, Al-Humaidi said.