ISLAMABAD, April 15: Federal Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon has invited Petrobras, the largest Brazilian oil and gas company, to invest in oil and gas sector. He was talking to a fact-finding mission of the company at his office on Friday. The company has an annual turnover of $6.6 billion. The two-member petroleum delegation headed by Nilo Azevedo Duarte, head of International Drilling Engineering is visiting Pakistan at the invitation of the Ministry of Petroleum.

Welcoming the delegation, Mr Jadoon briefed them about the investment potential in the oil and gas sector. He informed the delegation about the ongoing and upcoming oil and gas projects and invited the Petrobras to take full advantage of these opportunities for the mutual advantage.

The minister told the delegation that the government was according top priority to the promotion and expansion of the oil and gas exploration and production activities.

He said that Petrobras mission would hold talks with Pakistani officials for exploring areas of cooperation between the two countries especially in the offshore exploration.

President Gen Pervez Musharraf during his visit to Brazil last year had discussed with his Brazilian counterpart Lula Da Silva the prospects of cooperation in the oil and gas sector between the two countries.

The Brazilian President had agreed and informed President Musharraf that Petrobras had long experience and good technology in offshore deep water drilling and willing to collaborate with Pakistani companies.

It was also agreed that an experts delegation of petrobras would visit Pakistan for this purpose in the near future.

The director-general, petroleum concession and the Brazilian ambassador, Fausto Marta Godoy had played a very important role in promoting Petrobras in Pakistan.