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Govt plans to grant new petroleum exploration licences: Nadeem Babar

Govt plans to grant new petroleum exploration licences: Nadeem Babar

ISLAMABAD: The Petroleum Division is planning to award new petroleum exploration licences in December 2019 in order to increase investment opportunities in the sector, said Special Assistant to Prime Minister on Petroleum Nadeem Babar.

Addressing a luncheon arranged by the Canadian Global Exploration Forum (CGEF) in Calgary, he apprised Canadian companies of the investment opportunities offered by the petroleum sector in Pakistan.

A delegation, led by Babar, included officers of the Ministry of Energy and executives of Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL), stated a press release received.

The delegation made a comprehensive presentation on Pakistan’s petroleum sector and informed programme participants that new exploration blocks would be included in the next bidding round. OGDC and PPL also highlighted opportunities in existing blocks of the companies. The Canadian firms expressed interest in participation in the bidding of new blocks in Pakistan.

Meanwhile, the delegation also took part in the GasTech Exhibition and Conference held in Houston, US the other day. On the sidelines of the conference, meetings with various petroleum sector players were arranged and investment opportunities in Pakistan were discussed.