The advent of New Year will usher in further strengthening of exemplary friendship between Pakistan and China and both sides are keen to work even closer in various fields including energy sector for which new areas are being explored.
This was stated by Federal Minister for Power and Petroleum Mr. Omar Ayub Khan in a meeting with Chinese Ambassador to Pakistan HE. Mr. Yao Jing here today. Secretary Power Division Mr. Irfan Ali was also present during the meeting.
The Federal Minister apprised the Chinese Ambassador that all projects under CPEC are being executed well within their timelines. He said that the cooperation and coordination among the Chinese investors and relevant agencies of the Power Division are exemplary.
Apprising about the oil and gas sector the Federal Minister said that bidding process for 40 new exploration blocks are soon to be initiated. He said that under a proposed policy the oil and gas exploration well digging number is to be increased from average 33 to 100 by the OGDCL which will also increase possibility of new explorations.
During the meeting progress on various projects under the Energy Sector were also reviewed. It was also agreed that a comprehensive review meeting on all projects will be held sooner at the Power Division.
The Chinese Ambassador while acknowledging the exemplary progress on energy projects under the CPEC said that during the coming year the cooperation is further to be expanded. He said that many Chinese Companies are eager to invest in the Power, oil and gas sectors. He informed that since with the New Year under the FTA between Pakistan and China, the exports to China will increase considerably, there will be higher economic activity in Pakistan to meet the demands.