UK backs GSP capacity building

The United Kingdom has indicated support of up to $400,000 to enhance capacity building of the Geological Survey of Pakistan (GSP).

Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with British High Commissioner to Pakistan Jane Marriott to discuss enhanced bilateral cooperation in the oil and gas as well as minerals sectors. During the meeting, High Commissioner Jane Marriott remarked that the potential in Pakistan is tremendous and noted that significant reforms are underway in the economic realm. She expressed the United Kingdom's keen interest in strengthening collaboration with Pakistan.

The meeting reviewed progress in cooperation in the minerals sector. Both sides appreciated the growing collaboration between the British Geological Survey and GSP to shape a comprehensive capacity-building initiative. The British side indicated support of up to $400,000 for this initiative. The minister stated that, once finalised, the programme would prove highly beneficial for the development of Pakistan's minerals sector.

The two sides also discussed avenues for cooperation in oil and gas exploration and the broader minerals sector. Malik emphasised that transparent and credible processes are essential to inspire investor confidence and attract investment. He highlighted that the government of Pakistan is taking concrete steps to strengthen institutional capacity across the energy sector.

The minister underlined the importance of a strong and effective regulator for an efficient oil and gas sector and noted that the United Kingdom could play a vital role in supporting the restructuring of the Oil and Gas Regulatory Authority (OGRA). He proposed undertaking a comprehensive diagnostic for restructuring and capacity building, including the introduction of modern governance tools to enhance OGRA's institutional performance.

The British high commissioner agreed that the regulator plays a significant role in the sustainability of the sector and said such an exercise could be jointly explored.

Inviting greater participation of British companies, the minister encouraged UK firms to explore opportunities in Pakistan. Marriott acknowledged strong British capabilities in offshore exploration and stated that cooperation in this area holds significant potential.

Malik noted that Pakistan's recent offshore bidding round was well received, with participation from Turkish Petroleum, and suggested that British companies could team up with Pakistan's state-owned enterprises to forge mutually beneficial partnerships.

He also invited the British high commissioner to the Pakistan Minerals Investment Forum scheduled for April this year.