ISLAMABAD – Pakistan is now attracting the oil and gas explorationcompanies to invest in its oil and gas sector.
With deteriorating law and order situation due to militancy and terrorism,many oil and gas explorations firms deserted Pakistan.
However, the victory of the country’s security forces in the long fightagainst terrorism and extremism is now yielding positive results – withthe return of multi-national companies and firms to the country.
A group of US-based oil and gas exploration companies have expressedtheir keen interest in investing in exploring hydrocarbon deposits inPakistan in partnership with a state-owned domestic firm.
“A group of US companies comprising Alpha Petroleum Services and holdingcompany RigMax, headed by CEO Truman Wright, visited Pakistan PetroleumLimited (PPL) today (Thursday) to discuss collaboration,” a PPL statementsaid.
Read Top Stories
The company said that they expressed interest in investing in upstream E&P(exploration and production) activities in Pakistan.
The US-based firms are keen in participating jointly with PPL in theupcoming bidding round.
Wright expressed satisfaction over the prevailing investment climate andimproved security situation of Pakistan. “This is the right time forforeign companies to enter Pakistan’s E&P business,” the PPP statementquoted him.
