ISLAMABAD, Pakistan: A delegation of Petroleum and Gas Exploration and Production Companies met Prime Minister Shahbaz Sharif in Islamabad on Saturday and announced to invest US$ 5 billion in Pakistan over the next three years.
During the said period, 240 sites will be drilled in search of petroleum and gas.
In the meeting, the prime minister said that exploring domestic oil and gas reserves is the government’s priority.
The prime minister formed a Committee under the Chairmanship of the Deputy Prime Minister Ishaq Dar to formulate proposals for an attractive policy for oil and gas exploration in the Country after consultations with the stakeholders.
The prime minister invited the Petroleum and Gas Exploration and Production Companies to search for offshore reserves. He said that production from local reserves will save the Country’s valuable foreign exchange, and oil and gas will be cheaper for the common man.
Shahbaz Sharif directed the authorities concerned to address the problems facing the sector on priority basis.
