Attractive incentives for investors in Petroleum Policy: Asim.

DALLAS, July 30, 2009 (Balochistan Times) -- Dr. Asim Hussain, Advisor to the Prime Minister on Petroleum and Natural Resources, has said that attractive incentives provided by the government in the Petroleum Policy has made Pakistan a attractive country for oil exploring companies. Addressing to representatives of oil exploring in Pakistan Exploration and Promotion Conference here, the Advisor of PM on Petroleum and Natural Resources has underlined that Pakistan has reservoirs of 27 billion barrels of Oil and 280 Trillion Cubic Feet of Natural Gas. He said that 3.4 percent oil and 19 percent gas have been explored while urging serious efforts to explore the remaining resources, saying conferences were being held in Britain, Houston and Calgary (Canada) to attract international companies to invest in Pakistan. On a demand made by Oil Exploring Companies regarding extending date of participating in bidding till August 31, the Advisor said that the date of bidding could be extended if companies request in written. Counsel General of Pakistan in Houston, USA Aqil Nadeem welcomed the participants and expressed hope that the conference would result in further expansion of the US oil and gas companies presence in Pakistan. General Manager Exploration, OGDCL Tariq Jaswal, General Manager Exploration, PPL Moin Raza and Vice President of LMKR Blair Shimmield also addressed on the occasion. After conclusion of the conference, more than 10 prominent oil-exploring companies also held meeting with Dr. Asim and expressed their keen interest to invest in Pakistan.

(THROUGH ASIA PULSE)