(Calgary, Canada) Petroleum Division would award new petroleum exploration licenses in December 2019, in order to upstream the investment opportunities in petrol sector of Pakistan, delegation told participants of Forum. Mr. Nadeem Babar, Special Assistant to the Prime Minister on Petroleum is leading a high level delegation of Petroleum Division, Ministry of Energy, alongwith delegates from OGDCL and PPL, in its visit to Calgary in Canada.
In Calgary, the delegation participated in a luncheon arranged by Canadian Global Exploration Forum (CGEF),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 & gas business.
Through networking opportunities and by sharing accumulated knowledge with other members,CGEF was found important for accessing resources related to the oil and gas business around the world. The luncheon was participated by over forty (40) Canadian petroleum related companies. A comprehensive presentation was made on Petroleum Sector in Pakistan especially the upstream sector and the new blocks which would be included in next bidding round. OGDCL and PPL also made presentations highlighting the farm-in opportunities in existing blocks with the companies. Canadian companies showed interest for participation in bidding of new blocks.
(Houston, US) The delegation also participated in GasTech Exhibition and Conference on other day.Mr. Nadeem Babar, Special Assistant to the Prime Minister on Petroleum participated 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?”. Mr. Sher Afgan Khan, Additional Secretary (Policy) participated in Plenary session to discuss the topic “How New & Emerging LNG Importers Are Reshaping the Waterborne Gas Market.”. During both the plenary sessions, Pakistan’s perspective was shared and it was emphasized that Pakistan is liberating the gas sector in Pakistan. Private LNG developers are encouraged to develop the LNG infrastructure with out any financial or offtake commitment by the government. Natural Gas Third Party Access Rules had been notified which allowed the parties to transport their gas volumes through pipeline network of the two gas utility companies on payment of tolling fee.
On sidelines of the conference, meetings with various players in petroleum sector were arranged and investment opportunities in Pakistan were shared.
The delegation was hopeful that the next bidding round for award of new exploration blocks would attract interest from new foreign players.
Petroleum Division, Ministry of Energy is committed to promote business in petroleum sector of Pakistan.