YEMEN Press Agency

Hadi to sign document selling “Black Triangle” to Aramco for $5 billion

SANAA, June 28 (YPA) – The exiled president Hadi to sign on Sunday the document to sell Yemen’s “Black Triangle” oil sectors to Saudi Aramco for only $5 billion, Sources close to Hadi reported .

The sources told “Yemen Press Agency”, Saturday evening, that a special meeting brought together the Saudi ambassador in Aden Mohammed Al Jaber, president of the resigned Hadi and the speaker of Hadi’s parliament and his senior advisers at the Ritz-Carlton Hotel in Riyadh, and led to the agreement to sign the most dangerous document concerning Yemen’s oil and gas wealth.

The meeting discussed and approved the final value of the draft real “unpublished” contract, which amounts to only 5 billion US dollars, in exchange for the monopoly of oil wealth in the eastern desert strip of Yemen “Black Triangle” for the Saudi company Aramco for 40 years.

More recently, the kingdom, which has been leading an aggressive war on Yemen for more than five years, has openly sought to spread out to several Yemeni oil and gas economic sites, and oversaw strategic areas and provinces, all within the framework of agreements signed earlier with Hadi’s government, while Hadi personally signed the document selling the Black Triangle to Aramco on Sunday and for an “understatement.”

According to observers, this trend to control Yemen’s oil and gas wealth comes after Saudi Arabia secured full control of the Socotra archipelago and important strategic sites such as Mahrah province.

A leaked document issued by the Ministry of Oil in Hadi’s government on the terms of an agreement planned to be signed between Hadi’s government and the Saudi Program for the Development and Reconstruction of Yemen, shows that Saudi petroleum company Aramco is set to take over sectors of the so-called “Black Triangle” oil region in the eastern provinces of Yemen.

The area, located along the three provinces of Marib, Jawf and Shabwah, would be taken over by Aramco for 40 years, according to the sources

Yemen’s oil reserves are estimated at 11.950 billion barrels, of which 4.788 billion barrels of oil can be extracted by primary and current methods.

Total oil produced as of December 2018, a cumulative production for all sectors since 2015, is about 2.9 billion barrels, while total gas inventories are about 18.283 trillion cubic feet.