Pakistani Energy on the Upswing

Since 2001 Pakistan has attracted investment of over US$1 billion in the oil and gas sector. This is no accident. According to Pakistan's Secretary of Petroleum and Natural Resources, Iftikhar Ahmed, "vast potential exists for exploration in the oil and gas sector for local and foreign investors and Pakistan, with its huge energy resources, is an ideal place for investment".

Iftikhar said the lucrative incentives in oil and gas policy have generated significant interest of foreign investors. "Work is in progress in 20 blocks to find out oil and gas in the country," he added.

Iftikhar pointed out that up-stream and down-stream sectors in the oil and gas sector were opened up for foreign investment.

He was of the opinion that the incentives offered for on-shore and off-shore drilling would attract heavy investment, adding that the government would also welcome joint ventures.