September 07, 2008

Kuwait energy firm to invest in Pakistani oil sector

Mr Ahsan Ullah Khan caretaker minister for petroleum of Pakistan said that the government is providing a level playing field to investors in oil and gas sector.

Mr Khan, during a meeting with Mr Hussain Al Shama CEO of Bakri Energy Management System of Kuwait, has discussed investment potential in the Pakistani oil sector. During the meeting, Mr Khan briefed Mr Shama about the steps being taken by Pakistan government to promote the petroleum sector in order to meet the growing energy requirement of the country. He said that Pakistan government has deregulated the downstream petroleum sector in 2001 that attracted unprecedented investment in the country as well as provided competitive environment.

Mr Shama appreciated the growth of petroleum sector in Pakistan during the last few years and investor friendly policies being pursued by government of Pakistan. He said that the Bakri Energy would take full advantage of investment potential in Pakistan’s petroleum sector for mutual benefit.