The delegation is currently on a visit to Pakistan at the invitation of Prime Minister Shaukat Aziz to explore investment opportunities in various fields, including the oil and gas.
Welcoming the delegation, the minister said: "There exists bright prospects for Pak-CNCEC co-operation in the oil, gas and mineral sectors and invited them to participate in the exploration activities and upcoming cross-border gas pipeline, coastal refinery and coal projects for the mutual advantage.
Giving a detailed briefing, the minister said Pakistan was endowed with a vast hydrocarbon and mineral potential and all out efforts were being made to explore them, in order to cut down the high oil import bill.
He said that the government has chalked out a comprehensive 20-year energy plan to meet the growing need of the country exploiting the indigenous energy resources and through import of gas from Iran, Turkmenistan and Qatar besides establishing infrastructure to handle the import of LNG.
Mengal said that during the last five years the petroleum sector had witnessed a tremendous growth in oil production from 55,000 to 66,000 bpd. Gas from 2 to 3.7 billion cubic feet and LPG to 1500 tons per day.
The head of the Chinese delegation Ke Ning Jin expressed his gratitude to the government of Pakistan for extending them a warm hospitality. He evinced keen interest in Pakistan's oil and gas development activities. He said that CNCEC-Pak co-operation in the petroleum sector would open new avenues of interaction for the benefit of the two friendliest countries.
Additional secretary Shaukat Hayat Durrani and senior officials of the ministry were also present during the meeting.-PR