Minister for Petroleum & Natural Resources
The world�s seventh most populous nation, one of the largest economies of the world in need of energy, the second largest offshore basin of the world, largely unexplored territory located next to one of the largest reservoirs of oil and gas in the world, an aggressive and focused Exploration and Production Policy and a welcoming nation. I can go on adding to this list of reasons why the world�s exploration companies should be keeping Pakistan on top of their list of options to invest in.
Pakistan has so far discovered 1 billion barrels of oil and 54 trillion cubic feet of natural gas. It has a sedimentary area of 827,000 Sq. Km out of which 1/3rd is under exploration and 2/3rd has yet to be looked into for aggressive exploration for oil and gas. At present 17 foreign E&P companies including major multinational companies are operating in Pakistan. The government of Pakistan is keen to exponentially increase its exploration efforts so as to meet the fast growing demand of its economy. The country has an energy hungry market which can immediately accept 2 bcfd gas and over 300,000 bpd oil. The government of Pakistan offers some of the best terms and conditions to E&P sector through the
new petroleum policy 2009 and tight gas policy 2011.
There is a huge opportunity available for the exploration companies to invest and look for oil and gas in Pakistan. I invite foreign E&P companies to make use of these incentives and opportunities, and to keep Pakistan as a focus for their strategy in the near future. I look forward to welcome them to Pakistan.
