Shale Gas Initiative
Oil and Gas Development Company Limited (OGDCL), recognized as Pakistan’s premier Exploration and Production company, has recently signed a Memorandum of Understanding (MoU) with China’s CCDC, a leading entity in drilling and upstream oil field services.
The signing took place on Sunday during the 8th Silk Road International Expo for Investment and Trade in Xi’an, Shaanxi Province, China. This significant agreement aims to develop Pakistan’s shale and tight gas potential, marking a pivotal step in the country’s energy landscape.
The ceremony was attended by Federal Minister for Petroleum, Dr. Musadik Malik, who witnessed the signing firsthand. This MoU reflects the commitment of both Pakistan and China to harness indigenous energy resources to address the nation’s growing energy needs.
The collaboration emphasizes the potential for shale and tight gas resources in Pakistan, which have remained largely untapped and present an opportunity for significant energy development.
Mumtaz Ali Soomro, the Executive Director of Production at OGDCL, and Mr. Zhang Zhidong, Vice President of CNPC Chuanqing Drilling Engineering Company Ltd., represented their organizations in formalizing the agreement.
The signing event was further supported by the presence of Pakistan’s Ambassador to China, Khalil Hashmi, underscoring the diplomatic significance of the collaboration.
Dr. Musadik Malik expressed optimism regarding the future of energy sector cooperation between Pakistan and China, suggesting that this partnership will yield mutual benefits for both nations.
He emphasized the strategic importance of the collaboration between OGDCL and CCDC, noting that it opens a new chapter in the exploration of Pakistan’s untapped energy resources.
The minister highlighted the potential for this joint effort to significantly bolster Pakistan’s energy security and reduce its dependence on imported fuel.
The MoU signifies not just a business agreement but a broader commitment to strengthening bilateral ties in the energy sector. By focusing on the development of shale and tight gas resources, both countries aim to create a sustainable energy framework that leverages local resources.
This initiative aligns with Pakistan’s vision of increasing its energy independence while fostering economic growth through strategic international partnerships.
Overall, the signing of this MoU marks a crucial milestone in Pakistan’s journey toward energy self-sufficiency and represents a collaborative effort to tap into the vast potential of shale and tight gas resources, ultimately benefiting both nations in their pursuit of energy security and economic development.
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