No new exploration made in oil and gas sector during last five years: minister
ISLAMABAD: Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan on Wednesday said that during last five years no new exploration was made in the oil and gas sector, ARY News reported.
During his speech at Energy Forum 2018 here at OGDCL Auditorium, the minister lamented that past governments have not been giving top priority to explore new oil and gas reserves in the country.
The minister said that presently Pakistan is facing a severe energy crisis, since 1960, no mega dams were constructed in the country.
“We have been hearing about Bhasha Dam since the year 2000 but the Bhasha Dam is mere in papers till today,” said the minister.
He maintained that presently, the country is facing gas and energy crisis as our import bill of petroleum products including LNG and LPG is all over $12 billion.
“We cannot continue to expand such high amount of foreign exchange every year on the import of petroleum products,” said Ghulam Sarwar Khan.
The minister was of the view that the present government wanted to take practical steps for the betterment of country and our future generation.
Ghulam Sarwar Khan said that the purpose of holding the Energy Forum by Ministry of Petroleum is to get the expert opinion and advice of all stakeholders related to petroleum sector of the country.
He noted that the presence of experts in this energy forum would give the government new line of action in the oil and gas sector.
Speaking on the occasion, Chairperson OGRA, Uzma Adil Khan said that merger of upstream regulation with OGRA should be done after consultations with the federal and provincial stakeholders. Dr. Saeed Jadoon, ED OGDCL while speaking on the occasion, said that we have no discovery of fuel in Punjab , but 90percent in Balochistan and some points in KP as well.
Secretary Ministry of Energy (Petroleum Division) Mian Asad Hayaud Din and other senior officers of the Ministry were also present on the occasion
Distinguished guests from Oil & Gas sector, MD/CEOs of Exploration and Production Companies (E&P) attended the Forum.