ISLAMABAD: China has agreed to invest in oil and gas sector of Pakistan and has agreed to discover untapped shale gas reserves.
Two Chinese oil and gas companies Poly-GCL and Sino-PEC are agreed to come to Pakistan in the sector and to invest billions in drilling and developing the gas reserves of the country.
Pakistan has been blessed with abundant oil and gas reserves particularly Shale gas reserves, but a lack of expertise and paucity of funds are main impediments from discovering these natural resources, the source said.
A five-member delegation headed by Oil and Gad Development Company Limited (OGDCL) Managing Director Zahid Mir visited China recently to woo Chinese companies to invest in Pakistan.