MARIB, YEMEN — Saudi Arabia possesses around 18 percent of the world’s petroleum reserves. That fact though has done little to stifle the Kingdom’s apparent appetite for new sources of crude. Now, following over five years of all-out war against its southern neighbor, Saudi Arabia is scrambling to secure rights over Yemen’s potentially bountiful reserves of oil.
Aramco, Saudi Arabia’s state-owned oil company, is seeking decades-long strategic agreements with the internationally recognized government in exile of Abdul Mansour al-Hadi, which is backed by the Saudi-led coalition and the United States, to gain control of Yemen substantial oil and gas reserves, particularly in the oil-rich provinces of al-Jawf, Marib, Shabwa, and Hadramout, according to officials. The move could inflame enough anger among Yemen’s many warring and fractious parties to band together against what is increasingly viewed as an existential threat to Yemen’s sovereignty.
Officials in Yemen’s state-owned oil and gas company, known globally as Safer, as well as members of the transitional Hadi government who spoke on condition of anonymity for fear of reprisal, revealed to MintPress that negotiations are already taking place between Saudi Arabia and its allies with officials in Yemen’s ministry of oil and Safer to reach an agreement