Pakistan to be self sufficient in oil and gas by 2009-end.
KARACHI, 29 MARCH: State Minister for Petroleum and Natural Resources Muhammad Naseer Mengal has claimed that Pakistan will be self-sufficient in Oil and Gas sector by the end of 2009.
He was addressing the inaugural session of the second day of International Conference on Investment Opportunities in Pakistan, organised by the Ministry of Investment and Privatisation in collaboration with E-commerce Gateway, Singapore and Jang Group with the support of a number of public and private sector organisations at Karachi Expo Centre the other day.
Muhammad Naseer Mengal said Pakistan has very large untapped Oil and Gas reserves and so far 22 exploration licenses have been issued while 54 application were under consideration.
Mengal said that the government would revive the national mineral policy with the basic concept of drawing the attention of international investors. He urged the local investors to come forward and take advantage of the golden opportunities created by the government in the sectors of oil, gas and mineral resources.
Regarding the question about the Iran Gas Pipeline project, the Minister replied, Pakistan was a sovereign state and any decision would be taken considering national interest.
He said that Gwadar Deep Seaport and the Coastal Highway projects were complete and the motorway and railway lines were being built for connecting Gawadar with the whole country as well as with Iran, Afghanistan and Central Asian countries.