The Oil Minister reviews investment opportunities in the mining sector and discusses enhancing cooperation with Egypt.

Minister Highlights Yemen’s Mining Potential

Dr. Saeed Al-Shamasi, Yemen’s Minister of Oil and Minerals, announced that Yemen possesses significant mineral wealth, inviting both Arab and foreign companies to invest in this vital sector. He emphasized that the Yemeni government is ready to provide various incentives to facilitate investment in mining.

Gas Reserves and Industry Challenges

During his participation in the Egypt International Petroleum Conference and Exhibition (EGYPS 2025) held in Cairo, Dr. Al-Shamasi revealed that Yemen’s gas reserves are estimated at approximately 20 trillion cubic feet. He also pointed out the severe damage inflicted on the mining sector due to attacks by the Houthi militia, which have disrupted operations and deterred investment.

Strengthening Bilateral Cooperation

On the sidelines of the conference, Dr. Al-Shamasi met with Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Madbouly. They discussed ways to enhance and develop cooperation between the two countries, focusing on investment opportunities in the oil, gas, and mining sectors.

Collaboration with Egyptian Companies

In the meeting, which included Assistant Undersecretary Youssef Moussa, Dr. Al-Shamasi expressed Yemen’s desire for Egyptian companies to engage in projects and services within Yemen. He highlighted the potential for collaboration in natural gas, particularly compressed natural gas as a vehicle fuel, as well as in the mining sector.

Implementing the Memorandum of Understanding

The discussions underscored the importance of establishing a work program to activate the memorandum of understanding signed between Yemen and Egypt nearly three years ago. This agreement aims to foster collaboration and investment in the energy and mining industries.

Key Attendees

The meeting also included Rayed Younis, Director General of Public Relations and External Affairs, and Eidros Al-Khalifi, Director General of Oil and Mineral Media, who contributed to the discussions on enhancing bilateral relations.

This renewed focus on Yemen’s natural resources and the call for international investment signal a strategic move towards revitalizing the country’s economy amidst ongoing challenges.

 

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