ISLAMABAD, Nov 9: ENI Petroleum Company of Italy will make huge investment to undertake deep sea exploration in Pakistan from early next year. This was informed by ENI Senior Vice-President Mr Umberito who along with members of his delegation called on Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon here on Thursday.
According to a statement issued here they also discussed investment opportunities in the oil and gas sector.
Welcoming the delegation, Mr Jadoon said that there existed tremendous potential for the prospective investors in Pakistan’s oil and gas sector and attractive package of incentives was being offered in the onshore and offshore explorations.
The minister said that the government had made investors-friendly policies to attract investment and taking measures to further improve the incentives being offered to lure investment in onshore and offshore exploration.
He invited the ENI to participate in the upcoming oil and gas projects besides increasing its activities in the explorations. He briefed the delegation about the upcoming mega projects of LNG, oil refineries and infrastructure development.
Additional Secretary Shaukat Hayat Durrani, Director General Petroleum Confessions, Muhammad Naeem Malik and ENI General Manager in Pakistan were also present during the meeting.
APP adds: Meanwhile, visiting Hungarian Foreign Minister Ms. Kinga Gonez held a meeting with Mr Jadoon on Thursday and both sides agreed to expand cooperation in the oil and gas sector for their mutual advantage.
They also agreed that there existed a lot of potential and expertise for exploring new avenues of interaction in this vital field of the economy to bring the two countries closer.
Mr Jadoon spelled out the priority being given to the promoting of oil and gas sector by the government as a key element of overall socio-economic development of the country.
He invited the Hungarian investors to take advantage of the investment opportunities in the onshore and offshore exploration, upcoming liquefied natural gas (LNG), oil refineries and infrastructure development projects.
Ms. Kinga appreciated the tremendous growth of Pakistan’s petroleum sector in last few years and investor-friendly policies being pursued by the government to attract investment.
She said that her visit to Pakistan would open new vistas of cooperation in diversified fields particularly in the oil and gas sector for the mutual benefit of the two countries.
She also expressed keenness of Hungarian companies to participate in the upcoming Pakistan’s oil and gas projects.
Minister of State for Petroleum Mir Muhammad Naseer Mengal and officials of the ministry were also present during the meeting.
