Argentine oil firm’s chairman meets Zardari

Tuesday, 09 June 2009 11:09

ISLAMABAD: President Asif Ali Zardari on Monday said that Pakistan’s oil and gas sector offered great opportunity for investment as the government was pursuing a “visionary approach” based on the principles of de-regularisation, liberalisation and privatisation.

Talking to BRIDAS, Argentinean Oil Company chairman, President Zardari said owing to increasing energy demand over the next five years and low indigenous production, the sector offers great opportunities for investment.

He said that Petroleum Ministry has recently formulated, in consultation with all stakeholders, Petroleum Exploration and Production Policy 2009 which offered great incentives to the investors.

Zardari appreciated the Argentinean Energy Company for showing interest in the Turkmenistan-Afghanistan-Pakistan and India (TAPI) gas pipeline project and also in the exploration and development of gas fields in Balochistan and Sindh.

The President said that the government had set up Interstate Gas System (ISGS) as the project development vehicle company for the TAPI Gas Pipeline Project, the bidding round for which will be shortly advertised by the Ministry of Petroleum and Natural Resources.

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