The oil and gas exploration company ENI has expressed interest to invest in exploring unconventional gas reservoirs in a joint venture with Pakistan Petroleum Limited (PPL), according to a report by Islamabad’s Business Recorder.
In the near future, the two companies are slated to go before Pakistan’s Ministry of Petroleum to discuss the 'tight gas policy' before the Council of Common Interests (CCI). The meeting will be centered on a bid to provide incentives to exploration companies enabling them to carry out activities for exploring unconventional reservoirs.
Pending a successful meeting with the ministry, ENI will form joint venture with PPL to carry out activities in exploring tight gas reserves to enhance indigenous gas reserves for overcoming energy crisis in Pakistan.
"Though ENI has found one offshore well dry but we are still interested in carrying out more exploration activities in offshore," said Giraudi.
In a statement, Naveed Qamar lauded the ENI's valuable contribution in meeting the much needed energy requirements and oil and gas assets development in the country. He expressed satisfaction over the on-going exploration and production being carried out by ENI and emphasized further acceleration in the face of growing energy demands of Pakistan.
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