July 23, 2003	Wednesday	Jumadi-ul-Awwal 22, 1424

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ISLAMABAD, July 22 : A nine-member delegation of Chinese businessmen led by president of the Daqing Commission is due to arrive here on Wednesday.

The delegation is visiting Pakistan to explore possibilities for investment in oil, gas and telecommunication sectors.

The team will stay in the country for about a week and have in depth discussions with senior officials of the ministry of petroleum, privatization, the Oil and Gas Development Company and heads of the private oil companies in the country including Pakistan Petroleum, Pakistan State Oil and Pak-Arab Refinery Company to expand further business cooperation between two countries.

Daqing Petroleum Engineering International (DQE) is a subsidiary of Daqing Petroleum Administrative Bureau, the largest enterprise in China in terms of sales.

According to a press release, the DQE was established in 1959 and ratified by the Chinese Ministry of Commerce and incorporated under the laws of the People‘s Republic of China.

The company has registered capital of $122 million and the group produces 50 million tons of oil and two billion q/m of gas per year, which is 40 per cent of the total oil produced in China. It boasts of four professional group companies, which are respectively, Exploration and Development Group, Construction Group, Machinery Processing and Petrochemical Group and Water and Electricity Technical Service, exploration and development of oil and gas field as well as the export of petroleum equipment and petrochemical products.