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Government believes in providing level playing field to foreign investors and assures them protection of investments: Prime Minister

Islamabad, March 04, 2014 (PPI-OT): Mr. Alexander Dodde, Executive Vice President, MOL called on the Prime Minister at PM House. Mr. Shahid Khaqan Abbasi, Minister Petroleum was also present at the occasion.

Prime Minister said that Pakistan has a vast onshore and offshore sedimentary area out of which only around 35% is under exploration. The Government is making all out efforts to enhance Oil and Gas exploration activities in the country through investment friendly Policies, PM added.

He further stated that the Government believes in providing level playing field to all foreign investors and Oil and Gas companies and assures them protection of their investments.

Prime Minister appreciated professionalism and expertise of MOL and the important role it has been playing in this region for the last 15 years in the development of petroleum and gas sector of Pakistan. MOL management in Pakistan deserves applauds for their role in smooth operations of the company, however, they need to explore more investment opportunities in Oil and Gas Sector of Pakistan, PM further stated.

Prime Minister encouraged MOL to acquire new blocks independently or jointly with Pakistan’s state owned Companies i.e. Oil and Gas Development Company Limited (GDCL) and Pakistan Petroleum Limited (PPL) through competitive bidding process or joint ventures. Mr. Alexander expressed the confidence in present government’s economic policies and appreciated its efforts to boost energy sector in Pakistan.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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