PESHAWAR: Khyber Pakhtunkhwa (KP) Chief Minister (CM) Mahmood Khan has assured his all-out support to address to the issues of Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL), saying that it was encouraging that the company was working on professional lines to achieve its targets for exploring oil and gas in the province.
He was presiding over a meeting at Chief Minister (CM) Secretariat here on Saturday. Provincial Minister for Information Shaukat Yousafzai, Advisor to CM on Energy Hamayatullah Khan, the Energy Ministry secretary, representatives of KPOGCL and other concerned persons attended the meeting.
The meeting was briefed about the establishment of KPOGCL, its domain, ongoing activities and its plan for the future. It was informed that KPOGCL had been established in 2014; however, the company could not achieve its real targets due to other activities.
The meeting was further briefed that the area of Lucky Block comprised Bannu, Lucky Marwat and D.I.Khan which was awarded in September 2018. The expected net profit from this project totals about Rs30 billion.
Geological mapping and scouting have been done and the seismic tender has also been floated but the company was also trying to get expansion in the block for which the provincial government’s cooperation was required.
It was also revealed that there were at least six blocks in newly merged districts of erstwhile FATA on which homework was also in progress. The meeting also proposed a model to provide gas through cylinders in the backward villages of gas producing districts. This model could be launched and implemented on the desire and approval of the provincial government.
During the meeting, it was agreed that there was a need to attract investors and technology in this sector.
The KP CM said that oil and gas could be utilised for the prosperity of the province, therefore, the provincial government would certainly help in resolving all the issues being faced by KPOGCL. “We will provide an ideal environment and facilities to investors for this “purpose, he added.
The chief minister also agreed to formally inaugurate the Oil Refinery Karak and directed to convene a meeting of concerned authorities to finalise all requirements in this regard.
He also asked about the progress to utilise the available gas for providing cheap and uninterrupted electricity in economic zones of Hattar, Rashakai and D.I.Khan and directed for a progress review meeting on the project.