Workshop: (Chinese companies eager to invest in oil and gas sector)March 31, 2015
ISLAMABAD: Chinese oil and Gas companies have expressed deep interest to make contribution in the oil and gas sector of Pakistan to cater the growing demand of the country.
The interest was shown by the representatives from private and public sector oil and gas companies of China who participated in the workshop on Pakistan-China cooperation in the field of oil and Gas sector held here on Wednesday.
Arshad Mirza, Secretary Ministry of Petroleum and Natural Resources led the Pakistani side while Mr Yang Lei, DG National Energy Administration, China, was heading the Chinese delegation.
This was the first workshop between the two countries on oil and gas sector wherein both sides agreed to foster bi-lateral cooperation in the petroleum sector.
The workshop was informed that Pakistan is endowed with an estimated160 Trillion Cubic Feet (TCF) of natural gas reserves including 105 Trillion Cubic Feet (TCF) of Shale gas reserves. Exploitation of these resources require huge investment besides application of state of the art technology and know-how.
Representatives from Chinese oil and gas companies also expressed their willingness to resuscitate the abandoned oil fields in the country through Enhanced Oil Recovery (EOR) technique. Chinese companies were eager to invest in exploration of hydrocarbon techniques including the deep-water offshore exploration in the country.
Secretary Ministry of Petroleum in his concluding remarks appreciated the role and contribution of Chinese companies in the development of petroleum sector of Pakistan and their keen interest to invest in the sector. He expressed confidence that existing cooperation with china in petroleum sector would help Pakistan addressing the growing energy demand in the country.
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