He said that it was a milestone for the company as more indigenous hydrocarbon reserves will contribute their role in the energy equation of Pakistan, adding that within next few weeks another discovery of gas in Kirthar range will be made by the company which will help reduce the gas shortage of the country.
The Rahman Production Facility has a capacity to process 40 Million Cubic Feet per Day (MMCFD) of gas and as per plans if gas production in the block is further increasing it will be enhanced. This recent discovery at Rizq-1 operated by PGNIG will be connected with the Rehman Production Facility, during the 1st quarter of 2016 followed by the integration of Rehman-2 &3 during 2016 and further development wells to be drilled in the succeeding years.
Earlier, a 7-member delegation led by Andrzej Maksum met with Federal Minister Shahid Khaqan Abbasi and Federal Secretary Arshad Mirza to apprise them about the latest developments in the field. Andrzej informed the Federal Minister that Polish Oil and Gas Company stands committed to maintain and grow its presence in the Pakistan hydrocarbon exploration and production sector. He informed the Minister that Pakistan is on top of the list of countries where Polish Oil and Gas Company is looking to invest further. He said that his company, already working on one block and having made two discoveries, is aggressively pursuing opportunities to grow its presence in Pakistan. This also bodes well for Pakistan, in terms of increase in foreign investment from Europe.
The Minister informed them that Pakistan provides an investment friendly regime to investors by offering lucrative fiscal incentives and conducive business environment. Promoting the exploration of indigenous hydrocarbons is a priority for the government in overcoming the energy crisis of the country. He informed the delegation that lucrative opportunities exist in Pakistan''s upstream sector in both onshore and offshore areas.
Polish Oil and Gas Company came to Pakistan in 1997. Since then, it has invested over USD 100 million in the country. The company has made two gas discoveries in the Kirthar area and is currently working to develop these in association with its joint venture partner-Pakistan Petroleum Limited (PPL).
Andrzej Maksum thanked the Minister for cooperation and providing an opportunity to discuss the available investment opportunities in oil and gas sector in Pakistan. Andrzej briefed that their company is the biggest oil and gas company in Poland and said that the main purpose of the visit is to further strengthen the business ties between his company and Pakistan.
The Minister assured them full cooperation/support and appreciated their interest in investment in Pakistan. He further said that his Ministry is committed to promote investor friendly policies for facilitating international investment in the energy sector.