PM for accelerating efforts to explore new oil and gas fields in the country

Islamabad: Prime Minister Raja Pervez Ashraf has said that challenges should be turned into opportunities in order to accelerate the exploration efforts for oil and gas in the country.

The Prime Minister expressed these views while presiding over a meeting on Petroleum issues at the Prime minister’s house on Friday.

The Prime Minister was briefed about the exploration projects of Oil and Gas Development Corporation Limited (OGDCL) in the oil and gas sector and the incentives provided to attract investment.

The Prime Minister directed to make the oil and gas production efficient to meet the growing energy requirements of the economy.

Through joint partnerships, every effort should be put in for the enhanced exploration and drilling of oil and gas so that more energy could become part of the system to keep the wheels of the economy in motion and overcome energy shortages, he said.

The Prime Minister emphasized that locals should also be employed from the areas of exploration activity and the provision of education, health, sports and sanitation facilities should be ensured in the respective areas under the concept of Corporate Social Responsibility (CSR) so that the localities get a boost in terms of development and amenities.

During the meeting the Prime Minister was apprised that in compliance with his directions fuel supplies to power sector have been enhanced to more than 15000 MT.

The Prime Minister directed the Ministry of Petroleum to build up stocks of fuel by storing additional supplies in order to ensure smooth supply of electricity during the ensuing months.

The Prime Minister further directed that regular supply of oil to power sector be ensured and arbitrary variations in the oil supply be avoided.

The meeting was attended by Minister for Finance Dr. Abdul Hafeez Sheikh, Minister for Water & Power Ch Ahmed Mukhtar, Advisor to PM on Petroleum Dr. Asim Hussein and other senior officials of the concerned ministries.