January 7, 2006	Saturday	Zilhaj 6, 1426

BEIJING, Jan 6: Two major oil companies of China showed their willingness to invest in Pakistan, strengthening mutually beneficial cooperative partnership.

China National Petroleum Corporation (CNPC) and China Petrochemical Corporation (CPC) are looking for better opportunities in Pakistan to undertake joint ventures. The companies are currently engaged in consultation with the concerned officials in Pakistan to make their investment plan feasible, said official sources in Beijing.

The sources told APP that the two companies paid a productive visit to Pakistan last month. They were also accompanied by the representatives of China National Development and Reform Commission (NDRC).

According to the sources Pakistan government had been highly cooperative in facilitating the Chinese enterprisers to invest in the petroleum sector.

Ministry of Petroleum & Natural Resources of Pakistan and the NDRC had signed a memorandum of understanding for cooperation in this area. The task of Chinese delegation during its recent visit was to study situation, collect information and discuss the investment opportunities.

Citing the strong and friendly bilateral relations that keep growing in all spheres of life, an official of NDRC hoped that their Pakistani counterparts would come forward to utilize the Chinese assistance in the petroleum sector.

The Chinese oil companies enjoy the potential holding on-shore, offshore exploration. Their overseas business had recently expanded to more than 25 countries and they have participated in more than 50 investment projects for oil exploration.—APP