September 20, 2019: Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar at a luncheon has apprised the Canadian companies about the investment opportunities offered by the petroleum sector of Pakistan.
Petroleum Division would award new petroleum exploration licenses in December 2019, in order to upstream the investment opportunities in petroleum sector of Pakistan, the SAPM told the participants of luncheon, arranged by Canadian Global Exploration Forum (CGEF) in Calgary (Canada).
The delegation, led by Nadeem Babar, was on its visit to Calgary in Canada and included the officers of Petroleum Division and Ministry of Energy along with delegates from Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), a press release received here on Friday said.
At the CGEF, the delegation made a comprehensive presentation on the Pakistan’s petroleum sector and informed the participants that the new blocks would be included in the next bidding round. The OGDCL and the PPL also highlighted the farm-in opportunities in existing blocks with the companies.
The luncheon was attended by over 40 Canadian petroleum related companies. The companies had showed interest for participation in the bidding of new blocks in Pakistan.
The CGEF is a group of Canadian-based, internationally focused E&P companies and individuals that provides a resource for members who have potential interest for international oil and gas business.
Meanwhile, the delegation has also participated in GasTech Exhibition and Conference held in Houston, US on other day.
The SAPM Nadeem Babar took part in ministerial plenary session to discuss the topic “What Changes to Policy and New Regulation will be Required to Ensure the Gas Industry Captures the Benefits of Transformation?”
The delegation was hopeful that the next bidding round for award of new exploration blocks would attract new foreign players.