ENI to start large scale offshore exploration in Pakistan: BOI

ISLAMABAD: Chairman Board of Investment (BOI) Saleem H. Mandviwalla has stated that Pakistan could benefit by the expertise of ENI to optimize the sizable gas fields in Pakistan for power production. He also said that ENI will soon initiate construction of a 400 MW power generation project in Pakistan.

Saleem Mandviwalla met Chief Executive ENI Paolo Scaroni, at the International Economic Forum in St. Petersburg.

During the meeting, he also offered ENI opportunities of offshore exploration in Pakistan.

ENI CEO Paolo Scaroni hinted upon working in the new fields of gas for power generation on BOT basis.

He reinforced ENI's commitment as a strategic partner by making the company's expertise, know-how and innovative technologies available in the development of Pakistan's oil sector . He, however, expressed concern over the safety of foreigners, especially western investors in Pakistan.

ENI has been present in Pakistan since 2000 and is the first international company operating in the country in terms of exploration and production of gas with an equity production of 56,000 boe/d. ENI is also the first player in the offshore exploration of hydrocarbons with cutting-edge technology.

The company currently holds 22 exploration and production licences in Pakistan including 15 exploration licences, 3 offshore, 12 onshore and 7 production or development licences out of which 3 are operational.

ENI has won, in joint venture with Pakistan Petroleum Ltd. (PPL) and Royal Dutch Shell, the bid tender for the exploration licence of onshore Sukhpur block located in the Sindh province north of Karachi.

The Sukhpur block lies in the vicinity of the ENI-operated production areas of Bhit and Badhra and will bring significant operating synergies.

Copyright PPI (Pakistan Press International), 2011