ISLAMABAD: Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) has signed a joint collaboration agreement with Eriell Oilfield Services B.V., a Russian company.
An MoU was signed on Friday between KPOGCL and the Russian company, specialising in providing drilling and construction services to oil and gas companies.
Speaking on the occasion, the CEO of KPOGCL Raziuddin Razi said that the signing of the agreement testifies that international companies are interested in investing in KP’s oil and gas-related projects, and also is a positive indicator of improved security situation.
Due to the robust contribution of the province to the national grid in terms of hydrocarbon production, Pakistan has been able to save foreign exchange worth millions of dollars, he said.Mr Razi said that the collaboration will also help create professionals in oil and gas fields in the province and will bring them at par with international standards after acquiring latest software and on-job training.
Managing Director of Eriell Oilfield Services, DilshodAkhmedov, said that all commitments made under the agreement will be followed in letter and spirit and the company will extend cooperation to KPOGCL in achieving its goal of oil and gas exploration, besides investment in the province.
The company has a vision to promote and share technology with developing countries in order to train young professionals with latest cost-effective techniques and efficient planning models.