A geologist specializing in oil and gas extraction revealed that the Minister of Oil in the coalition-backed Aden government is planning to sell Yemen’s crude oil reserves located underground to Egyptian companies. The plan involves Egyptian companies partnering with national companies PetroMasila and Safer as subcontractors, taking 50% of the produced oil.

The geological expert, Abdulghani Gaghman, highlighted the lack of operating budget for local companies as the justification for this partnership. He also mentioned PetroMasila’s significant production capabilities, including numerous wells and successful export operations.

This controversial move has sparked concerns among industry experts and local communities about the potential impact on Yemen’s economy and environment. The decision to involve foreign companies in the exploitation of Yemen’s natural resources raises questions about transparency and accountability in the country’s oil sector.

As discussions continue regarding the future of Yemen’s oil reserves, stakeholders are closely monitoring the developments to ensure that the interests of the Yemeni people are safeguarded.