Energy

Award of oil and gas blocks: Pakistan invites British firms to participate bidding round

Atif Abbas
Islamabad: Government has invited British E&P companies to participate bidding round in award of blocks to explore oil and gas resources.

A British trade delegation headed by Mr. Simon Penny, Her Majesty’s Trade Commissioner along with Mike Nithavrianakis, Dy HC and Mrs. Olivia Campbell,  Dy Director for Trade at the British High Commission, Islamabad called on Mr. Nadeem Babar, Special Assistant to Prime Minister on Petroleum at Petroleum Division this morning. Mr. Mian Asad Hayauddin, worthy Secretary Petroleum also attended the meeting.

The SAPM hoped that British business and investors keen interest will be evinced through the E and P roadshow that is scheduled to be held in London.

Mr. Nadeem Babar welcomed the British delegation and shared key areas of cooperation between both the countries. General trade of commodities, cooperation in Energy sector, technological manufacturing including manpower, skill, liquidity for small scale production and robust agricultural productivity.

The SAPM discussed incremental steps taken by the present Government to encourage renewable energy including setting practical timelines for renewable energy’s inclusion in the national grid. He also invited British investment in Pakistan’s E and P sector which will see three rounds of bidding. Mr. Nadeem Babar drew the attention of Mr. Simon Penny towards the presence of about 40 UK E and P companies that were present in Pakistan about a decade ago and how can they are enter the Pakistani opportunities through an array of these opportunities.

Mr. Penny expressed his pleasure at being in Pakistan with his team and commended the improved ease of doing business environment in the country. The improved British travel advisory, in his opinion, was a consequence of the impressive improvement in Pakistan’s security and business climate.

Mr. Simon Penny appreciated the proposals and sounded upbeat on their success. Mr. Penny is visiting the Pakistan leg of his journey as a part of visit to other Commonwealth countries. It comes as the UK seeks to bolster trade with countries in the Commonwealth post its exit from the EU.

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