China's YanChang Petroleum considers Pakistan entry

ISLAMABAD: Pakistan Federal Minister of Petroleum Dr Musadik Malik has visited YanChang Petroleum, a leading Chinese energy company, on the sidelines of the 8th Silk Route Expo to foster international cooperation in the energy sector.

The visit underscores both nations’ commitment to enhancing strategic partnerships in the fields of energy exploration, innovation, and sustainable development. During the visit, Dr Musadik Malik was received by YanChang Petroleum’s senior leadership team, led by the Deputy Chief manager, who provided an in-depth overview of the company’s ongoing projects and future growth strategies.

YanChang Petroleum is one of China’s leading energy companies with a diversified portfolio spanning oil and gas exploration, production, and refining, pipelines, integration of coal, electrification, as well as significant investments in the production of sophisticated chemicals like ethanol.

The discussion focused on several key areas, including oil and gas exploration, refinery cooperation, integrated coal industrial complex, and technological innovations. The minister highlighted the importance of international collaboration to meet the growing energy demands.

“Pakistan and China have shared goals in ensuring energy security, and this visit is an opportunity to explore new avenues for cooperation that align with both nations’ commitments to innovation in the energy sector,” Dr Musadik Malik said. The visit also included a tour of YanChang Petroleum’s state-of-the-art display of the company’s facilities. He was briefed on the company’s latest advancements in energy technologies, including renewable energy integration and carbon capture initiatives.

The discussions paved the way for potential joint ventures and collaborations in oil and gas exploration, as well as new opportunities in the sector. Deputy Chief Manager of YanChang Petroleum commented, “We are honoured to welcome Dr Musadik Malik to our facilities. This visit has laid the foundation for future cooperation.

After in-depth exchanges, we have great potential for cooperation. Pakistani companies will have detailed discussions on technical and commercial aspects of various prospective projects. The visit marks a new chapter in the energy dialogue between Pakistani and Chinese energy companies, setting the stage for future projects that will not only boost economic growth but also bring about innovation and technology.