Ishaq Dar Chairs High-Level Meeting to Address Key Issues in Pakistan’s E&P Sector
Islamabad: Deputy Prime Minister, Mr. Ishaq Dar, chaired a high-level meeting today to assess critical issues impacting Pakistan’s Exploration & Production (E&P) sector. Federal Minister for Petroleum Ali Pervaiz Malik, senior officials from the various Ministries, and industry stakeholders participated in the discussions, which focused on security concerns, circular debt, gas pricing, energy planning, and LNG supply constraints.
Addressing the participants, Deputy Prime Minister Ishaq Dar underscored the government’s commitment to creating a secure and investment-friendly environment for the E&P sector. He emphasized the need for a comprehensive strategy to tackle circular debt, integrate energy plan and introduce sustainable gas pricing mechanisms to enhance the financial stability of the energy sector.
Federal Minister for Petroleum Ali Pervaiz Malik highlighted the steps taken to address the challenges of the sector. He added that government is focused on indigenization and integrated energy planning.E&P Firms to invest over $33.3m in eight blocks
The Deputy Prime Minister appreciated the announcement of the upcoming offshore and onshore bid round, terming it a significant step toward unlocking Pakistan’s hydrocarbon potential and attracting foreign and local investment. He also praised the formalization of the notification allowing E&P companies to sell 35% of their gas to third parties, calling it a key reform that will promote competition, and improve payment issues and more investment in the exploration activities.
While discussing security issues faced by E&P companies, the committee commended the support of the Pakistan Army, Ministry of Interior and Law Enforcement Agencies (LEAs) in ensuring a stable operating environment for oil and gas exploration. It was acknowledged that the completion and connection of the Shewa discovery in Waziristan to the SNGPL pipeline network would not have been possible without their critical support.
Discussions also covered long-term energy planning, with a focus on optimizing domestic resources to reduce reliance on imports. The meeting further examined LNG procurement and supply chain challenges, aiming to ensure uninterrupted gas availability for industries and consumers.
The Deputy Prime Minister reaffirmed the government’s resolve to implement reforms, expedite regulatory approvals, and facilitate private sector participation in the energy sector. He directed relevant authorities to take immediate steps to address the identified challenges and strengthen Pakistan’s energy security.
The government remains committed to fostering a robust E&P sector, ensuring sustainable energy development, and driving economic growth.
