ISLAMABAD, June 28: PetroBras of Brazil is planning to undertake about six to eight major oil and gas exploration projects including drilling of offshore blocks besides setting up of a petrochemical complex and a refinery in Pakistan.

Informed sources in the petroleum ministry told Dawn on Tuesday that Pakistan has extended a bidding date for six new offshore blocks to enable the company to compete.

The company has held more than two rounds of discussions with federal government and local foreign petroleum companies in Pakistan to invest heavily in Pakistan’s oil and gas sector. The company was specifically invited by President Musharraf during his visit to Brazil in November last year.

These sources said that the PetroBras was also in advance stages of negotiations with leading firm ENI to become part of the joint venture in M7N offshore blocks. It was also reviewing data of three offshore blocks to bid independently or jointly with Oil and Gas Development Company Limited. Separately, it is looking into possibility of participating in Indus delta-A and G offshore blocks.

The PetroBras is also in discussions with ministry of industries and production to set up a petrochemical plant and another coastal refinery project in partnership with Asia Petroleum Limited.

Similarly, the company is also planning to introduce new technologies of gasohol and particularly that of biodiesel and to put up a catalytic unit at National Refinery Limited for enhancing production of asphalt.

However, the sources said that Director General of Petroleum Concessions G. A. Sabri, who personally persuaded the Brazilian company with annual revenues exceeding $90bn, has been sidelined by the petroleum ministry.

In a major reshuffle, the ministry transferred him from directorate general of petroleum concessions to director general administration. In his place, Director General Gas Naeem Malik has been appointed as DGPC.