E&P companies' delegation calls on Omar Ayub

ISLAMABAD: A delegation, comprising heads of different Exploration and Production (E&P) companies, Thursday called on Minister for Energy Omar Ayub Khan and discussed matters related to the oil and gas sector.

The chief executive officers of E&P companies including Dewan Group, Orient Petroleum, Oil and Gas Development Company, Pakistan Petroleum Limited, Mari Petroleum, Petroleum Exploration Company and the PGiNG were part of the delegation, a Petroleum Division news release said.

Speaking on the occasion, the minister said that the revival of exploration and production activities in the country was the key objective of the incumbent government which had been ignored by previous governments.

He said the current government also aimed at achieving self-sufficiency in the oil and gas sector by auctioning new E&P blocks and accelerating the exploration activities.

Omar Ayub also highlighted the government's pro-investment policies, ease-of-doing-business strategy in the petroleum sector and efforts to ensure transparency for providing a level-playing field to all competitors.

The minister said the increased E&P activities would help expand the oil & gas business, create job opportunities in the country and decrease the oil import bill.

The delegation thanked and appreciated the government efforts for positive developments in the E&P sector and the smooth resolution of regulatory issues pertaining to Petroleum Concessions (PCs).

The meeting also discussed the upcoming bidding rounds for the auction of new oil and gas blocks, revocation of existing/non-performing blocks and amendment in PPRA (Public Procurement Regulatory Authority) rules for the state-owned oil and gas entities.