Hydrocarbons: Plan to accelerate oil, gas exploration

ISLAMABAD: Cognisant of the ever-growing energy requirement of the country, the government is working on a multi-faceted strategy to accelerate oil and gas exploration activities in potential areas besides achieving self-sufficiency in crude oil refining.

“Currently, six projects, investment initiatives and proposals are in the pipeline and at different stages in the oil refining sector to process around 1.11 million barrels per day,” a senior official privy to petroleum sector developments told APP on Tuesday.

Sharing details, he said under the strategy, an oil refinery and petrochemical complex of 300,000 bpd production capacity would be set up in Gwadar, Balochistan. Separately, Pak-Arab Refinery would install a 250,000bpd coastal refinery in Hub, Balochistan.

Sino Infrastructure Hong Kong Oriental Times Corporation will establish the 250,000bpd Gwadar Refining and Industrial Park. Answering a question, the official said at present eight oil refineries existed in the country.  

Published in The Express Tribune, September 25^th, 2019.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.