US Companies to Invest in Pak Oil, Gas Sectors US Envoy Calls on Petroleum Minister

The Frontier Post
October 10, 2001
http://www.frontierpost.com.pk/main.asp?id=22&date1=10/10/2001

ISLAMABAD: The US Ambassador to Pakistan Wendy Chamberlain paid a courtesy call on the Federal Minister for Petroleum and Natural Resources, Usman Aminuddin here Tuesday and discussed with him matters pertaining to Pak-US cooperation in the oil and gas sector.

During the meeting the Petroleum Minister briefed the US Envoy on the ongoing and future development activities in the oil, gas and mineral sectors, privatization process, salient features of the new onshore and offshore exploration policies and opportunities for the prospective investors.

Usman Aminuddin said that the government was attaching high priority to the promotion of these vital fields of the economy aimed at accelerating socio-economic progress in the country.

He said that Pakistan is endowed with the fifth largest coal reserves in the world and the government is focusing specific attention to exploit them as soon as possible with a view to reduce the heavy dependence on oil and gas.

The Petroleum Minister said that a number of US oil and gas companies were successfully operating in Pakistan and were playing a tremendous role in the oil and gas exploration activities.

He invited the US investors to increase their participation in the petroleum and coal sector activities for the mutual benefit.

Usman Aminduddin also briefed the Ambassador on the proposed Turkmenistan-Afghanistan-Pakistan gas pipeline project and said that this project opens up new avenues of multi-dimensional regional cooperation particularly in view of the recent geo-political developments in the region.

Ms Wendy Chamberlain said that the United States attaches great importance to its relations with Pakistan.

She informed that the US Government had lifted a number sanctions ton Pakistan which would help revive it s national economy.

The Ambassador expressed the hope that the US investors would avail the opportunities in the oil, gas and mineral sectors of Pakistan.

© Copyright 2001

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