ISLAMABAD: Up to 70 percent area in Pakistan is still unexplored and needs to be evaluated for the exploration of oil and gas to reduce the import of fuel, said Federal Minister for Energy Muhammad Ali, speaking the chief guest at a conference here Tuesday.
The two-day 29th Annual Technical Conference (ATC) was arranged jointly by the Society of Petroleum Engineers (SPE) and Pakistan Section and Pakistan Association of Petroleum Geoscientists (PAPG), here at a local hotel.
Faheem Haider, MD and CEO of Mari Petroleum Company Limited, Chairman ATC and Chairperson SPE Pakistan Section, along with the managing directors and senior management of all the E&P companies, service companies, international delegates from all over the world including SPE MENA Regional Director and EVP of Abu Dhabi National Oil Company (ADNOC) Mohamed Al Marzouqi and over 1,200 delegates attended the opening session.
It’s in country’s interest to proactively pursue offshore oil and gas exploration
The theme of this year’s conference is “Exploring the Unexplored: High-Risk Plays and Economic Challenges”.
The ATC is a flagship event of the upstream oil and gas industry of Pakistan which attracts international and domestic experts. It provides an opportunity to international and local industry to showcase technology. It is a forum where the authors share their experiences of successful deployment of technology for benefit of the entire industry. The application of new technology can bring improvement and increase oil and gas production from the indigenous resources of Pakistan.
The chief guest Federal Minister for Energy, Muhammad Ali, in his address, appreciated the efforts of the SPE Pakistan Section and Pakistan Association of Petroleum Geoscientists for holding the 29th ATC.
He maintained still nearly 60-70 percent area is unexplored and needs to be evaluated for the exploration of oil and gas to reduce the import of fuel.
The government is trying to attract FDI in the field of oil and gas and expects that learning from this technical conference and the efforts of the professionals and their links with professionals outside Pakistan will help foreign investors become interested in investing in Pakistan’s oil and gas sector.
He further disclosed that 24 oil and gas wells would be auctioned in two phases in a couple of months and domestic and international companies would be encouraged.
He emphasised on the importance of such technical forums and sought input from the professionals to put their heads together to overcome the economic and energy woes of the country.
The federal minister then inaugurated the exhibition and oil show and visited the booths setup by domestic and international exhibitors. Corporate members were presented shields as a token of appreciation for their support to the organising bodies.
Lifetime Achievement awards were presented to Tanweer Aizad, Professor Dr Amanat Ali Bhatti, Muhammad Azam Malik, and Dr Mubarik Ali for their services to the industry and academia.
Mohamed Al Marzouqi delivered the “keynote address” and highlighted the challenges being faced by various companies in the Middle East and North Africa Region.
Faheem Haider, chairman of SPE Pakistan Section and Chairman of ATC, in his address, highlighted the economic challenges being faced by the E&P industry and provided valuable suggestions for the improvement of the sector.
Copyright Business Recorder, 2023
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