Govt eager to encourage foreign investment in oil, gas exploration, Senate told

The Senate was informed today that the government is keenly interested to encourage foreign investment in oil and gas exploration.

Minister for Petroleum Musadik Malik told the house during Question Hour that four bidding rounds were conducted in the last four years. Thirty-three blocks were awarded to exploration and production companies, wherein, international companies have presence in seven blocks.

The Minister for Petroleum said that offshore bidding rounds for twenty-four blocks are being finalized.

He said the government is introducing a mechanism under which all fertilizers will get the gas supply on same price rate.

The House was adjourned to meet again tomorrow at 4:00 pm.

Source: Radio Pakistan