ISLAMABAD: Poland’s Ambassador Maciej Pisarski on Friday said Poland Oil and Gas Company (POGC) had invested over $450 million in Pakistan, signaling to double its investments in next few years.
Talking to media, the ambassador said the company plans to double its investments signaling growing economic collaboration.
POGC/Orlen Group through its Pakistan Branch has been in operation in Pakistan since 1997.
Since 2005, the company has been operating in the Kirthar concession.
As a result of the work done, the company has made three tight gas discoveries (Rehman, Rizq, and Rayyan fields), making it a pioneer in the exploration and production of unconventional gas deposits in Pakistan.
The company has made over USD 450 million in investments thus far.
The company’s ambition is that its current achievements so far constitute a base for future development, he said.
Since it obtained a concession to explore production potential of yet another gas field (Baran), it is possible that its investments will double in the next years.
The ambassador said success of its operations is predicated to a large degree on timely payments for the delivered gas. The company itself and the Embassy regularly work with the Government of Pakistan on this issue, he added.
The envoy said Poland-Pakistan trade had seen a significant rise, reaching €861 million in 2023 from €456.74 million in 2018.
He highlighted initiatives such as the GreenEvo mission that brought Polish green technology to Pakistan, and emphasised the contributions of Poland’s oil and gas company POGC/Orlen Group.
Pisarski said in 2024 alone, Poland provided $5 million in aid, continuing to support vulnerable populations despite the strain of the Ukraine conflict.
The ambassador reiterated Poland’s dedication to strengthening its bilateral and international relationships, fostering economic growth, and tackling critical global issues.
He underscored his country’s commitment to fostering economic and commercial relations with Pakistan and said the 62 years of friendly and collaborative relations between the two countries were built on mutual respect for sovereignty and adherence to international norms.
The ambassador called for a stable and transparent economic environment to attract more foreign investments.
He also congratulated Pakistan on its election to the UN Security Council for 2025-2026 and expressed confidence in its role in promoting global peace and security.
Pisarski lauded Pakistan’s longstanding participation in UN peacekeeping missions and recalled moments of mutual support during crises, such as the evacuation of Pakistani students from Ukraine and the events in Kabul in 2021.
He also detailed Poland’s economic transformation since 1989, marking a GDP growth of over 826 per cent and said his country had emerged as Europe’s most successful economy and the fastest-growing among upper-middle and high-income countries globally.
The ambassador reaffirmed Poland’s support for Ukraine amidst Russian aggression and condemned the involvement of North Korean troops and labeled the conflict as a “colonial war.”
He highlighted Poland’s extensive military and humanitarian aid to Ukraine, allocating over 4.91 per cent of its GDP to the effort.
Copyright Business Recorder, 2024
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