Chinese firm proposes investment in Pakistan's oil, refinery and offshore energy sectors
- Company aims to collaborate in increasing domestic hydrocarbon production
A Chinese firm proposes extensive investments across Pakistan's energy sector, including oil/gas, refinery upgrades, and manufacturing, aiming to boost energy security and economic development.
- Chinese company's broad investment proposals in Pakistan's energy sector.
- Plans for modernizing Pakistan's refineries and increasing hydrocarbon production.
- Establishing energy equipment manufacturing and offshore exploration.
A Chinese company has proposed investing across Pakistan’s energy sector, including upstream oil and gas, refinery upgrades, offshore exploration and energy equipment manufacturing, Petroleum Minister Ali Pervaiz Malik said during a meeting with the firm’s chairman on Thursday.
According to a statement issued by the Petroleum Division, Shandong Xinxu Group Corporation Chairman Hou Jianxin expressed interest in a long-term strategic partnership covering Pakistan’s energy value chain.
The company said it aims to collaborate in increasing domestic hydrocarbon production through field optimisation, drilling services and production enhancement.
Hou also proposed modernising Pakistan’s refineries by installing a Fluid Catalytic Cracking (FCC) unit to convert furnace oil into higher-value petroleum products.
The Chinese firm further proposed establishing an energy equipment manufacturing facility in Pakistan to serve local demand as well as export markets in the Middle East.
Other proposals included cooperation in offshore oil exploration and development, lead mining, setting up a sulphur processing plant, and developing integrated energy cities along Pakistan’s coastline comprising LNG infrastructure, petroleum storage facilities and petrochemical industries.
Welcoming the proposals, Petroleum Minister Ali Pervaiz Malik said the government was reviewing the country’s energy landscape to strengthen energy security, attract investment and promote value addition across the sector.
He assured the delegation of the government’s support in facilitating viable investment proposals and directed the Petroleum Division to appoint dedicated focal persons for each proposal to ensure timely follow-up.
The minister also noted that Shandong Xinxu Group had previously met Prime Minister Shehbaz Sharif during his visit to China and said deeper cooperation between the two countries would support Pakistan’s economic development and energy sector transformation.
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