Pakistan is seeing a decrease in the number of foreign oil and gas firms operating in the country. This is likely due to

Key Highlights :

1. There are only three foreign companies currently working in the oil and gas sector in Pakistan, and international companies are leaving the country.

2. The main reasons for this are the political situation and the depletion of gas reserves.

3. The government is trying to mitigate the depletion of gas reserves by working on new exploration blocks.

4. There are differences between the federation and the provinces on the Pakistan Petroleum Upstream Regulatory Authority Bill, 2022, which is delaying the passage of the bill.

5. The government has directed all the exploration and production companies to prioritise employment opportunities for skilled and unskilled workers in their area of operation.

     Islamabad: Secretary Petroleum Division has said that only three foreign companies are currently working in the oil and gas sector in the country, as international companies are leaving Pakistan and selling their assets.

     According to a report published in Dawn, the Secretary Petroleum Division said that the three foreign companies are working in the country on a short-term basis.

     The report quoted the Secretary as saying that the reason why international companies are leaving Pakistan is that the country's oil and gas resources are not being developed properly.

     He said that the government is working hard to bring in foreign companies to work in the oil and gas sector.

     The Secretary said that the government is also trying to attract private companies to invest in the oil and gas sector.

     He said that the government is trying to develop the oil and gas resources in the country so that the country can become self-sufficient in this regard.

Continue Reading at Source : nation_pk