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Delegation calls on Saifullah

Premier Oil intends

to expand oil, gas

exploration in Pakistan

ISLAMABAD: A delegation of Premier Oil, UK, led by Steve Lowden called on Federal Minister for Petroleum and Natural Resources, Anwar Saifullah Khan here on Wednesday.

They discussed matters pertaining to oil and gas exploration activities in Pakistan by the Premier Exploration Pakistan, Limited (a subsidiary of Premier Oil), and apprised the minister about the latest status of development projects of Qadirpur gas fields, and company's oil and gas exploration operations in Ghouspur, and Kandra blocks in Sindh.

Lowden said that Premier Oil intended to expand its oil and gas exploration and production activities in Pakistan and they have been looking forward to have more exploration licences in this regard. He informed the minister that his company has also been apprising the low BTU gas reserves of 1.5 TCF discovered in Kandra to formulate a development plan.

Anwar Saifullah said that the government had been making all out efforts to enhance the oil and gas exploration in the country and it had formulated one of the best policy framework presently being offered by various countries to attract foreign and local private sector.

Grant of about 40 petroleum exploration licenes during the last 15 months speaks itself of the success of the petroleum policy 94, he added and said that the initial geo-data information gathered through satellite indicated bright prospects of gas reserves in Balochistan.

He told the delegation that the government had political commitment with the people of Pakistan to make the country self-sufficient in energy and fast track approach had been adopted to get all the development projects in energy sector completed well in time.

Anwar Saifullah said that the government has been pursuing these options simultaneously to import gas through pipelines from the neighbouring countries i.e. Iran, Qatar and Turkmenistan. The deficit between demand and supply of gas is increasing day by day whereas we badly need natural gas for industry, power generation and for domestic use as only 12 percent, of the population is presently enjoying this facility and we have no option but to explore and develop domestic gas reserves as well as to increase the supply of this cleaner form of fuel by importing it to check deforestation, he concluded.-APP