PM Nawaz urges MOL Pakistan to invest in upstream Oil, Gas sector

BusinessPM Nawaz urges MOL Pakistan to invest in upstream Oil, Gas sector

ISLAMABAD, Pakistan: Prime Minister Muhammad Nawaz Sharif Thursday invited MOL Pakistan to invest further in the upstream oil and gas sector of Pakistan.

“Un-explored offshore region of Pakistan provide an opportunity for investment,” he said while talking to Berislav Gasco, Executive Vice President MOL Pakistan Oil and Gas Company here at the PM House.

Minister for Petroleum Shahid Khaqan Abbassi was also in attendance.

The Prime Minister appreciated the MOL ventures in Pakistan and said the government was making all out efforts to enhance Oil and Gas exploration activities in the country through investment-friendly policies.

The Prime Minister said that the Government has announced Petroleum (Exploration & Production) Policy, 2012 which was rated as one of the best policies in the region.

The Policy provides lucrative incentives to E&P companies in term of price and other inducement, the Prime Minister said.

Berislav Gasco appreciated the investment friendly policies of the government and expressed satisfaction over the reformed economic outlook of the country.

The delegation apprised the Prime Minister of its successful investment ventures in Pakistan and highlighted the areas of future prospects.

They said the MOL Pakistan was always on the look for further investment opportunities in Exploration and Production (E & P) sector of Pakistan through involvement in further Exploration Blocks.

Gasco said that the MOL Pakistan sincerely believes that its E & P skill inventory gathered over the period of time can positively contribute towards the self-sustainability of Pakistan’s energy needs.

Source: APP

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