UK investment sought in E&P sector

ISLAMABAD: Pakistan has invited British petroleum companies to invest in its oil and gas exploration and production (E&P) sector, for which a three-round bidding process is being initiated to award new exploration blocks, a government statement said on Tuesday.

“It is hoped that British businessmen and investors will actively participate in the E&P road show, scheduled to be held in London soon,” said Nadeem Babar Special Assistant to the Prime Minister (SAPM) on Petroleum on while talking to Her Majesty’s Trade Commissioner Simon Penny.

The statement said Penny was accompanied by Mike Nithavrianakis, Britain’s Deputy High Commissioner Karachi, and Olivia Campbell, Director for Trade at the British High Commission Islamabad. Secretary Petroleum, Mian Asad Hayauddin also attended the meeting, it added. The British trade commissioner was in Pakistan as part of his visits to Commonwealth member countries to bolster trade ties after United Kingdom’s exit from the European Union -Brexit.