Petroleum minister seeks to strengthen energy partnerships with Chinese companies

Minister for Petroleum Dr Musadik Malik on Saturday led a delegation of Pakistani energy companies to the eighth Silk Route Expo in China, aiming to strengthen energy partnerships with Chinese counterparts and foster collaboration in the sector.

According to a statement from the petroleum ministry, Dr Malik laid down Prime Minister Shehbaz Sharif’s vision during the discussion forum, assuring Chinese companies of full support in partnering with Pakistani firms for joint ventures, whether individually or through consortiums.

According to reports, Pakistan’s current domestic oil and gas production stood at 70,998 barrels and 3,131 million standard cubic feet per day (MMSCFD), respectively.

While PM Shehbaz had emphasised exploring new oil and gas reserves as a “top priority”, highlighting that during the next three years, around 240 potential reserve sites would be excavated with an investment of $5bn to explore petroleum and gas.

During the meeting, key areas of partnership including oil and gas exploration, refinery upgrades, coal conversion, and regasification were discussed.

Furthermore, the minister stated that Pakistan had one of the largest coal reserves and the government was committed to creating value from its natural resources “while protecting the environment”.

He also highlighted the country’s focus on producing fertilisers using coal-based energy.

“Moreover, the production of green and blue hydrogen, as well as ammonia, is under consideration. We will become technology partners and joint venture partners,” Dr Musadik Malik remarked.

Chinese companies also engaged in business-to-business meetings with their Pakistani counterparts, exchanging opportunities and plans for collaboration.

During a series of roundtable meetings, the minister met with representatives from leading Chinese companies, such as the Shaanxi Energy Bureau, Yanchang Petroleum Group, Hua Lu Engineering and Technology Group, Shanghai Electric, and Shaanxi Blower Group.

Pakistani companies, including Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MPCL), Fauji Fertilizer Company Limited (FFC), and the Thar Coal Energy Board, showcased investment opportunities at the Expo.

from The Dawn News - Home https://ift.tt/92ALQZT

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