ISLAMABAD, Feb 5: Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon has said the government will encourage and facilitate Russian and Turkish investors in the oil and gas development projects.

He was talking to Russian Ambassador Sergey N. Peskov and the Turkish Palmet company Chairman Dongany Samuary, who separately called on him and discussed investment opportunities in Pakistan.

Mr Jadoon and the Russian envoy said there were a lot of potential and opportunities for promoting and strengthening bilateral relations in diversified fields, particularly oil and gas sector.

The minister emphasized that Russia's world renowned Gazprom company should explore oil and gas cooperation individually or through joint ventures with Pakistani companies in the energy development activities.

He invited the Russian companies for construction of underground oil and gas storage facilities, manufacturing of CNG compressor dispensers, LPG cylinders, setting up of coastal refinery and commissioning of a plant upgradation for Diliband iron deposits.

Welcoming the Turkish delegation, the minister said the government was according top priority to the speedy promotion of its energy sector as a key element to overall socio-economic growth.

He said the government had deregulated and liberalized the petroleum sector and was providing attractive package of incentives to investors in the offshore and onshore oil and gas exploration activities.

The minister briefed the delegation on investment opportunities for the Turkish companies in the oil and gas sector including the proposed cross-border gas pipeline projects. He said the Pakistan-Turkey Joint Ministerial Commission could play a significant role in strengthening and opening new avenues of bilateral cooperation in diversified fields.

The Palmet company chief evinced keen interest in the pipeline projects and energy development activities. He said there existed vast scope for cooperation with Pakistan in the energy field.