Pakistan signs six deals with UK firms for oil and gas exploration

May 02, 2005 02:00 AM

Pakistan has signed six agreements worth $ 40.20 mm with multinational companies in Britain for the exploration of oil and gas in the potential areas of North West Frontier (NWFP), Balochistan and Sindh provinces.
These agreements materialized in a two-day conference held under the aegis of Pakistan ministry of petroleum and natural resources (MPNR). Secretary, MPNR, Ahmad Waqar signed these agreements on behalf of the government of Pakistan.

The agreements envisage phase-wise exploration of oil and gas by these companies in Jhangar area of Sindh, Huramzai and Laogasht of Balochistan besides Kohat and Bannu areas of NWFP.
Later, Federal Minister for petroleum and natural resources, Amanullah Jadoon told that the talks on the proposed import of gas from Turkmenistan, Iran and Qatar were in progress and if India showed its intention of gas import from Iran via Pakistan, it would be welcomed.

He told that the prices of oil in Pakistan were determined on the basis of variations in Gulf oil rates.
Pakistan's High Commissioner in Britain, Dr Maleeha Lodhi was also present on this occasion.

Source: GEO Business News
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