ISLAMABAD: Standing Committee on Petroleum and Natural Resources met under the chairmanship of Ch Bilal Ahmad Virk, MNA here in Parliament House on Thursday to discuss the agenda pertaining to Oil and Gas Development Corporation Limited (OGDCL).
The Committee directed the Ministry of Petroleum and Natural Resources to provide details of the cases pertaining to the Ministry and its attached departments presently being investigated by NAB and FIA and their current status.
The Committee also directed the Ministry to present the details of the Directors on OGDCL Board and criteria of their appointment before the Committee in its next meeting.
While discussing the details of performance of OGDCL in terms of gas and oil exploration, the Committee sought a comparative statement of expenditure incurred on Rigs owned by OGDCL and leased/rented from private companies.
The Committee was of the view that rigs leased/rented from contractors seemed to be more cost effective as compared to the rigs owned by OGDCL. He said that rigs owned by the Corporation were aged and less efficient when compared to latest private rigs.
The Managing Director (OGDCL) assured the committee that requisite information would be submitted to the committee. He also apprised the committee about the ongoing oil and gas exploration activities and number of successful discoveries.
The meeting was attended by Mr. Shahid Khaqan Abassi, Minister for Petroleum and Natural Resources, MNAs Malik Ihtebar Khan, Mr. Mohammad Afzal Khokar Mian Tariq Mehmood, Rana Mohammad Ishaq Khan, Mr. Rasheed Ahamd Khan Ch. Javaid Iqbal Warraich,, Mr. Nawab Ali Wasan, Mr. Nasir Khan Khattak, Mr. Abdul Waseem, Mr. Sajid Ahmad, Mr. Pir Bux Junejo, Additional Secretary M/o Petroleum, Managing Director (OGDCL) and other officers of the concerned departments.