ISLAMABAD, Nov 22 (APP): Minister of State for Petroleum and Natural Resources Jam Kamal Tuesday said the government was utilizing all available resources to meet ever-increasing energy needs in the country.
Addressing the inaugural ceremony of a two-day 23rd Annual Technical Conference (ATC) here, he said all stakeholders were on-board to accelerate exploration and production (E&P) activities in oil and gas sector.
The conference titled “Oil Price: Domestic Challenges and E&P Strategies,” was jointly organized by Pakistan Association of Petroleum Geoscientists (PAPG) and Society of Petroleum Engineers (SPE).
Around 1,000 local and foreign Exploration and Production E&P companies participated in the conference, where as many as 36 professionals and 24 students gave their presentations on the topic followed by panel discussions.
Jam Kamal said import of Liquefied Natural Gas (LNG) was being enhanced gradually to bridge gap between demand and supply of natural gas.
He said the government was in the process of establishing more LNG terminals in Karachi and Gwadar, besides reinforming gas companies’ transmission network by laying of Karachi-Lahore and Gwadar-Nawab Shah gas pipelines.
The minister was of the view that E&P companies operating in Pakistan were playing a crucial role in stepping up exploration activites to tap existing potential of natural resources.
He said the government was making efforts that fuel produced by the
companies should be environment friendly, adding that the country’s oil
refining capacity was being increased and more refineries were being set up aimed at making the country self-reliant in oil production.
Among others the conference was attended by Chairmen PAPG Abdul Wahid Chughtai, SPE Syed Wamiq Bokhari, ATC Zafarullah and SPE President nominated for 2018 Darcy Spady, heads of leading E&P companies and senior officials of the Ministry of Petroleum and Natural Resources.
Darcy Spady said although Pakistan was a smaller player in oil and gas sector but it had the resources of bigger players, which needed to be exploited through modern techniques.
He said the E&P companies’ increased interaction with community in oil and gas producing areas, friendly environment, transparency in international capitals and fulfilling corporate social responsiblity were the basic elements to gear up exploration activities.