Federal Minister for Petroleum and Natural Resources, Ahsanullah Khan has said that the Petroleum Policy-2007 envisage more incentives in the upstream sector and asked the ENI and MOL companies to expand oil and gas exploration activities in Pakistan for the mutual advantage.
He said this while talking to the Managing Director ENI Petroleum Italy, Luigi Ciarrochi and Managing Director of MOL Oil Company Hungary, Janos Feher who called on him here on Tuesday.
The Minister said that the government was taking concrete steps for exploiting the untapped hydrocarbon resources in order to meet the growing energy requirement of the country for sustaining its speedy economic growth.
He said that caretaker government was ensuring continuity of reforms and policies and would extend all out cooperation and guidelines to the prospective investors for their participation in the oil and gas development activities in country.
The minister lauded the contribution of ENI and Mol companies for promoting the oil and gas exploration activities in Pakistan and hoped that they would continue to avail the investment opportunities for the mutual benefit.
The ENI Managing Director informed the minister that his company has required three blocks in offshore areas and necessary arrangements were being made to start the exploration activities as soon as possible.
The Managing Director MOL briefed the minister about his company's involvement in oil and gas exploration activities in Tal Block in NWFP. He told that MOL joint venture has planned to develop the Manzalai field and four wells would be drilled to increase the level of production from 50 to 250 mmcfd gas per day. Secretary Petroleum, Farrukh Qayyum and Director General (Petroleum Concessions) Muhammad Naeem Malik were also present during the meeting.-PR
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