ISLAMABAD: Prime Minister Mohammad Nawaz Sharif on Thursday invited MOL Pakistan to invest further in the upstream oil and gas sector of Pakistan.

“Unexplored offshore region of Pakistan provides an opportunity for investment,” he said while talking to Dr Berislav Gaso, Chief Operation Officer, MOL Group, at the PM House. Minister for Petroleum Shahid Khaqan Abbassi was also present.

The prime minister appreciated the MOL ventures in Pakistan and said that the government was making all-out efforts to boost oil and gas exploration activities through investment- friendly policies. He said that the government had announced Petroleum (Exploration & Production) Policy, 2012 which was rated as one of the best policies in the region.

The policy provides incentives to E&P companies in terms of price and other inducement, the prime minister said.

Berislav Gasco appreciated the investment-friendly policies of the government and expressed satisfaction over the reformed economic outlook of the country.

The delegation apprised the prime minister of its successful investment ventures in Pakistan and highlighted the areas of future prospects.

They said the MOL Pakistan was always on the look for further investment opportunities in Exploration and Production (E & P) sector of Pakistan through involvement in further exploration blocks.

Berislav Gasco said that the MOL Pakistan sincerely believes that its E & P skill inventory gathered over the period of time can positively contribute towards the self-sustainability of Pakistan’s energy needs.

Published in Dawn, January 15th, 2016