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| October 7, 2003 | Tuesday | Sha’aban 10, 1424 |
Security at oil fields a must: Musharraf
DADU, Oct 6: President Gen Pervez Musharraf has said generation of electricity from gas, coal and water is essential to reduce the import bill of oil and this plan will soon be implemented so that more people can get the facility.
He was speaking at the inauguration ceremony of the Bhit gas field of the ENI company here on Monday.
Referring to the security problem for multinational oil and gas companies, he gave an assurance that the government would ensure security at oil and gas fields.
He said preventive measures had already been taken in Balochistan where gas and oil companies were working.
He said huge reserves were found in different areas, especially in Balochistan where maintaining law and order was the government’s priority.
President Musharraf called upon oil and gas companies to initiate development and social projects and provide health and education facilities to local people. He said this would help improve the law and order situation in these areas.
About the investment atmosphere in the country, the president said the government was reducing the cost of investment by providing investors with different items at low rates. He said the investment environment was friendly for joint ventures.
He said the government was providing security to foreign investors and companies and urged local people to cooperate with oil and gas exploring companies in their areas.
About unemployment, he said such projects would go a long way in providing more job opportunities.
Speaking on the occasion, ENI president Victoria Mankato said the ENI Pakistan had invested 40 per cent, Khirthar Pakistan BV 28 per cent, Oil and Gas Development Corporation 20 per cent and the Premier KUFPEC Pakistan BV 12 per cent in the Bhit gas field.
He said the Bhit-II well, which was drilled in 1997, was a big reserve of natural gas. Encouraged by Bhit exploration, he added, drilling had continued in the area and further discoveries had been made.
He said the Bhit field was poised for further drilling where reserves of about one trillion cubic feet gas were confirmed.
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