Pakistan reinforces importance of oil, gas development
In Pakistan this year, at least 11 exploratory wells will be drilled and 2,500 km of seismic will be acquired�a 'revolutionary' pace of activity in the oil and gas sector, according to commentary at a July 11 high-level meeting chaired by Minister of Petroleum and Natural Resources Usman Aminuddin.
KARACHI�In Pakistan this year, at least 11 exploratory wells will be drilled and 2,500 km of seismic will be acquired�a "revolutionary" pace of activity in the oil and gas sector, according to commentary at a July 11 high-level government meeting chaired by Minister of Petroleum and Natural Resources Usman Aminuddin.
The meeting was called to review the performance of state firm Oil & Gas Development Co. Ltd. (OGDC) and update its long and short-term goals for boosting oil and gas activity in Pakistan. The minister said the pace of oil and gas developmental should be accelerated and a performance-monitoring system devised.
"The government attaches top priority to the speedy development of the domestic oil and gas sector, and the application of high technology is a must to achieve high yields in the era of competition," Usman saids.
"Pakistan is enriched with oil and gas resources that need fast exploitation to attain self-reliance in this vital field of the economy as soon as possible," he added. "It will also help arrest the heavy import oil bill and save the precious foreign exchange to be utilized for the progress and prosperity of the country."
OGDC Managing Director Maj. Gen. Pervez Akmal said at the meeting measures were being taken to explore and exploit indigenous resources for optimum production of oil and gas, besides seeking marketing opportunities abroad.
Also attending the meeting were Sec. of Petroleum and Natural Resources M. Abdullah Yusuf, OGDC Chairman Muhammad Afzal Khan, Joint Secretary (development) M.J. Bashar, Director General (petroleum concessions) Shahid Ahmed, Director General (gas) Munir Ahmed, and the directors of OGDC.