Oil and gas: ‘Exploration essential to meet energy needs’

E&P companies will be facilitated.

ISLAMABAD: Federal Minister of Petroleum and Natural Resources, Syed Naveed Qamar has said that oil and gas exploration and production must be accelerated to mitigate the energy shortfall in the country.

Energy is the basis of growth and welfare and all out efforts are needed to expedite exploration and production (E&P) activities in the country, Qamar said while talking to Dr Elmar Colins, General Manager of OMV Exploration and Production Pakistan who called on him on Wednesday to brief him about the activities of the company in Pakistan.

The minister directed the officials present in the meeting to take appropriate steps to facilitate and streamline E&P companies operating in Pakistan so as to bring much needed hydrocarbon resources on stream and meet the energy requirement of the country.

Colins expressed his optimism on development of unconventional resources of tight gas, once the properly laid down policy is put in place. The GM also expressed his commitment to far- reaching social responsibility, as an integral part of business philosophy and in the creation of vital infrastructure in its areas of operation.

OMV, Austria’s largest listed integrated oil and gas industrial company, is involved in exploration activities in Pakistan since 1990.

Published in The Express Tribune, January 13^th, 2011.