Trade with Pakistan stood at Rs 48bn in 2016: Polish Envoy

ISLAMABAD: Polish ambassador to Pakistan Piotr Opalinski Wednesday said his country's trade volume with Pakistan stood at around Rs 48 billion during the year 2016.

In a brief interview with APP here, he expressed confidence that Poland trade volume with Pakistan, which was 400 million Euro last year, would increase in the coming days as it was an attractive destination for foreign investment in diverse fields.

The ambssador, who also has sufficient command to speak in Urdu language, said the two countries were enjogying good friendly and brortherly relations and these would further augment with each passing day.

He said "Pakistan and Poland have been enjoying cordial relations since Pakistan came into being."

Answering a question, Piotr said a Polish oil and gas company PGNiG was operating in Pakistan since 1997, which has planned to step up its exploration and production activities and take the business volume to $ 100 million per year.

The company, which is celebrating its 20th anniversary in Pakistan, would drill 14 more oil and gas exploration wells in hydrocarbon potential areas and play an important role in meeting Pakistan's growing energy needs, he added.

The PGNiG, the envoy said, has so far invested more than 125 million dollars in Pakistan, adding that current daily production from the Rehman field stood at 24 mmscfd from four producing wells, which would be increased up to 90 mmscfd gas with full field development.

He said the increase in production required advanced technologies (horizontal wells, multiple transverse hydraulic fracturing) for which an investment of more than $ 300 million would be made.

"PGNiG is in active pursuit to increase it footprint in the Pakistani's upstream oil and gas sector and is also interested to develop the shale gas deposits here," he remarked.

In addition to investment in the oil and gas sector, he said, efforts were in hand to enhance cooperation in the defence and defence production sectors.