UAE shows interest to make investments in energy sector of Pakistan

The United Arab Emirates has evinced interest to make further investments in the energy sector of Pakistan.

The interest was expressed by the UAE’s Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al Zaabi during a meeting with Miniter for Energy Omar Ayub Khan in Islamabad today.

The UAE envoy said that collaboration in the energy sector would provide an impetus to economic ties between the two brotherly countries.

Minister for Energy Omar Ayub Khan has said the government is pursuing robust policies to revamp the petroleum and power sectors of the country.

He was talking to the Ambassador of Czech Republic Tomas Smetanka who called on him in Islamabad today (Wednesday).

Omar Ayub said the government is committed to diversify the outlook of energy market while making it more competitive and efficient.

Referring to the exploration and production activities, the Minister said recently the government has carried out the bidding of fifteen oil and gas blocks and minimum investment in these blocks will be over seventy one million dollars in three years.  He said the government will be offering more new oil and gas blocks by the end of this year.

The Minister said the government is focusing on exploiting indigenous resources for electricity generation.

During the meeting, the Czech Ambassador explored the areas of mutual discussion in energy sector including investment in oil sector and business in LNG supply chain for group of Czech companies visiting Pakistan by the end of next month.