petroleum exploration licenses issues in Dec 19


Special Report

ISLAMABAD-Petroleum Division decided to award new petroleum exploration licenses in December 2019 to encourage the participation of foreign oil and gas exploration companies in petroleum sector which opted to stay away in previous auctions of blocks awarded by federal government.

To attract multinational E&P companies, federal government arragned road shows in Canada and USA in joint venture of foreign companies in the oil and gas sector.Nadeem Babar, Special Assistant to the Prime Minister on Petroleum is leading the high level delegation of Petroleum Division, Ministry of Energy, alongwith delegates from Oil and Gas Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL).

In Canada, 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.

In USA, the delegation also participated in GasTech Exhibition and Conference on other day. Nadeem Babar 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?”.