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A high-level meeting on country’s exploration & Production E&P) has focused on key challenges, including security concerns, circular debt, gas pricing, energy planning, and LNG supply constraints, said an official statement released by the Petroleum Ministry on Tuesday.
Deputy Prime Minister Ishaq Dar presided over a high-level meeting today to evaluate key challenges affecting Pakistan’s Exploration & Production (E&P) sector.
The meeting brought together Federal Minister for Petroleum Ali Pervaiz Malik, senior officials from various ministries, and industry stakeholders, who engaged in discussions on critical issues such as security concerns, circular debt, gas pricing, energy planning, and LNG supply constraints.
Addressing the participants, the Deputy Prime Minister reiterated the government’s dedication to fostering a secure and investment-friendly environment for the E&P sector. He stressed the importance of a comprehensive strategy to resolve circular debt, integrate energy planning, and implement sustainable gas pricing mechanisms to strengthen the financial stability of the energy sector.
Federal Minister for Petroleum Ali Pervaiz Malik provided an overview of the measures undertaken to address sectoral challenges. He highlighted the government’s focus on indigenization and integrated energy planning as part of its broader energy policy.
Acknowledging recent developments in the sector, the Deputy Prime Minister welcomed the announcement of the upcoming offshore and onshore bid round, describing it as a crucial step toward unlocking Pakistan’s hydrocarbon potential and attracting both local and foreign investment. He also commended the formalization of the notification permitting E&P companies to sell 35% of their gas to third parties, considering it a key reform that would enhance competition, resolve payment issues, and encourage further investment in exploration activities.
During discussions on security challenges faced by E&P companies, the committee lauded the role of the Pakistan Army, the Ministry of Interior, and Law Enforcement Agencies (LEAs) in maintaining a stable operational environment for oil and gas exploration. The successful completion and integration of the Shewa discovery in Waziristan into the SNGPL pipeline network were acknowledged as achievements made possible through their vital support.
The meeting also delved into long-term energy planning, emphasizing the need to optimize domestic resources to reduce dependence on imports. Additionally, concerns related to LNG procurement and supply chain disruptions were examined, with a focus on ensuring an uninterrupted gas supply for industries and consumers.
Reaffirming the government’s resolve to implement reforms, expedite regulatory approvals, and enhance private sector participation in the energy sector, the Deputy Prime Minister directed the relevant authorities to take immediate action to address the identified challenges. He reiterated the government’s commitment to strengthening Pakistan’s energy security, fostering a resilient E&P sector, and ensuring sustainable economic growth.
