ISLAMABAD:
Petroleum Secretary Muhammad Ejaz Chaudhry has said the government will open new opportunities for energy exploration in line with the global shift towards exploiting unconventional gas reserves and ensure a favourable business environment to attract international expertise and investment.
He was speaking at a special session on ‘Exploiting shale gas in Pakistan’, organised by Pakistan Petroleum Limited (PPL) here on Monday.
Government representatives and management and technical staff of leading local and international exploration and production (E&P) companies, including overseas delegates, attended the workshop.
“The government looks forward to recommendations emerging from the session, which will be incorporated into E&P policy,” Chaudhry said.
The primary recommendation was to develop a framework to provide incentives and kick-start pilot projects and set pricing and fiscal terms under a separate regime.
PPL Managing Director and Chief Executive Officer Asim Murtaza Khan highlighted the significance of the event, saying it not only brought shale gas exploration on the country’s E&P map but also encouraged participation by leading international players in dialogue on the policy and fiscal framework necessary for a breakthrough in this direction.
He hoped that the workshop would provide a platform for collective thinking and knowledge sharing and fuel strategic interest and engagement by international E&P community in exploiting shale gas resources in the country to meet future energy needs in the face of depleting conventional reservoirs.
He stressed the need for enhancing business linkages between Pakistan and Poland through PGNiG, a PPL joint venture partner, in exploiting unconventional reserves.
Published in The Express Tribune, November 22nd, 2011.
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