Prime Minister Nawaz Sharif said the Government is making all-out efforts to enhance oil and gas exploration activities in the country through investment-friendly policies. Talking to Alexander Dodde, Executive Vice President, MOL, who called on him here on Tuesday, Prime Minister said Pakistan has a vast onshore and offshore sedimentary area out of which only around 35 percent is under exploration. Shahid Khaqan Abbasi, Minister Petroleum was also present at the occasion.

He further stated that the government believes in providing level playing field to all foreign investors and oil and gas companies and assures them protection of their investments. Prime Minister appreciated professionalism and expertise of MOL and the important role it has been playing in this region for the last 15 years in the development of petroleum and gas sector of Pakistan. MOL management in Pakistan deserves applauds for their role in smooth operations of the company; however, they need to explore more investment opportunities in Oil and Gas Sector of Pakistan, PM further stated.

Prime Minister encouraged MOL to acquire new blocks independently or jointly with Pakistan's state owned Companies, ie Oil and Gas Development Company Limited (GDCL) and Pakistan Petroleum Limited (PPL) through competitive bidding process or joint ventures. Alexander expressed the confidence in present government's economic policies and appreciated its efforts to boost energy sector in Pakistan.-PR

Copyright Business Recorder, 2014