Yemen is a non-OPEC Middle East oil/NGL producer, and experienced rapid capacity growth between first production in 1986 and a peak of 450,000 b/d in 2001. Production has declined steadily since and, in 2010, output averaged 280,000 b/d. In the absence of further discoveries, reserves will be depleted over the next decade. Security issues and political tensions have led to frequent attacks on the Marib Export Pipeline, lowering output, which averaged 131,000 b/d in 2013.
Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.
This country report gives an overview of the key upstream supply issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream supply report is your definitive commercial guide.
Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.
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All of Yemen's technical reserves are onshore and account for around 260,000 barrels of recoverable reserves. They are mostly located in the large commercial blocks mentioned earlier. Several of these have been in secondary reservoirs, such as the Kohlan Formation and the basement, in which long-term productivity and commercial viability remain to be confirmed. Appraisal programmes are under way on most of these. Development decisions are expected to be impacted by the ongoing security situation.
Key other discoveries
Crude quality outlook
In this report there are 11 tables or charts, including:
Executive summary: Image 1
Policy and regulation
Risks to production
Overall oil/NGL production outlook to 2030
Supply: Table 1
Key under development fields
Supply: Table 3
Forecast exploration drilling activity and oil/NGL discovery rates
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Country report | Nov 2014
Yemen oil supply summary
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