PESHAWAR: Khyber Pakhtunkhwa (KP) Chief Minister Mahmood Khan Saturdayassured all out support to address to the issues of Khyber Pakhtunkhwa Oiland Gas Company Limited (KPOGCL) saying that it was encouraging that nowthe company was working on professional lines to achieve its targets forexploring oil and gas in the province.
He said this province had rich potential of oil and gas that could beutilized for the prosperity of the province. The government would providean ideal environment and facilities to the investors for this purpose, thechief minister added.
He was presiding over a meeting here at Chief Minister Secretariat.Provincial Minister for Information Shaukat Yousafzai, Advisor to CM onEnergy Hamayatullah Khan, Secretary Energy, representatives of KPOGCL andother concerned attended the meeting.
The meeting was briefed about the establishment of KPOGCL, its domain,ongoing activities and its plan for future. The meeting was informed thatKPOGCL had been established as holding company of Khyber Pakhtunkhwa in2014.
However due to some other activities, the company could not achieve itsreal targets. On the directives of PTI provincial government, the companyhas been realigned and board of company has also been reconstituted.
Now it was working on practicable lines in order to explore and utilize theadvantages of province in the sector of Oil & Gas. The meeting on theproposal of concerned department, agreed with the need to attract investorsand technology in this sector.
The chief minister said that provincial government would extend its all outsupport to the company in order to resolve its issues. The meeting was alsobriefed about the ongoing activities of KPOGCL and told that Lucky blockwas awarded in September 2018.
The area of Lucky block comprised Bannu, Lucky Marwat and Dera Ismail Khan.The expected net profit from this project is round about Rs. 30 billion.
Geological mapping and scouting has been done. Seismic tender has also beenfloated. But the company was also trying to get expansion in this block forwhich cooperation of provincial government is required.
The chief minister assured for all possible support from the provincialgovernment in this regard. It was also revealed that there were at leastsix blocks in newly merged districts of erstwhile FATA on which home workwas also in progress.
The meeting also proposed a model to provide gas through cylinders in thebackward villages of gas producing districts. This model could be launchedand implemented on the desire and approval of provincial government.
The Chief Minister on this occasion agreed to formally inaugurate the Oilrefinery Karak and directed to convene a meeting of concerned authoritiesto finalize all requirements in this regard. He also asked about theprogress to utilize the available gas for providing cheap and uninterruptedelectricity in economic zones of Hattar, Rashakai and Dera Ismail Khan anddirected for progress review meeting on this project.