Special Investment Facilitation Council Backs New Petroleum Discoveries in Pakistan

Islamabad: The Special Investment Facilitation Council (SIFC) is actively supporting the government’s efforts to discover new petroleum reserves in an attempt to bolster Pakistan’s energy self-sufficiency.

According to Ministry of Information and Broadcasting, this support has recently been reinforced through a collaboration between the Oil and Gas Development Company Limited (OGDCL) and the China Central Depository and Clearing Company (CCDC). The two organizations have entered into a memorandum of understanding aimed at developing Pakistan’s potential in shale and tight gas.

OGDCL has committed significant resources towards this initiative, with an investment of thirty million dollars already deployed to explore the country’s shale gas reserves. This effort is part of a broader strategy to enhance the national energy supply and reduce dependency on imported fuels.

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