The Ambassador of Pakistan in the United States visited to Midland for proposing the bright investment opportunities that are available in the oil and gas sector of Pakistan.
The shale oil and gas reserves in Pakistan are bringing the attention of US Investors and oil companies to explore future opportunities.
Mr. Jalil Abbas Jilani, Pakistani ambassador in US was received by Houston Consul General of Pakistan Mr. Afzaal Mahmood, Mr. Muhammad Saeed Sheikh and President of Houston-Karachi Sister City Association (HKSCA).
Pakistan is an emerging state containing huge reserves of Energy fuels mainly Oil and gas, while the sector is willing to develop the awareness of American oil companies and investors and make them interested for joint venture. According to Mr. Jalil Abbas Jilani” discussion ended up with positive outcomes. Mr. Javaid Anwar and other senior officials made a great contribution for making the session result oriented. He further claimed that the local investors of Midlands, Texas have been convinced and confident to take part in the considerable investment opportunities that will provided by the Pakistan.”
The Ambassador of Pakistan also gave inclusive briefing in relation to the certain measures that the government of Pakistan is adopting for raising direct foreign investment and building the confidence of International entrepreneurs. Moreover, the world’s recognized financial rating firm “Moody” issues latest rating where Pakistan has promoted from negative to stable condition while, World Bank has positioned the country right before many Asian countries for best business doing index.
Mr. Jilani also enlightened the various projects being undertaken for eradicating the transportation and power shortage problems that will certainly advance the overall infrastructure network of Pakistan. The achievements of prospective development will also help in improving investment opportunities in Pakistan. He also informed that the law in order condition is increasingly rest in improving mode and the terrorism activities have significantly gone to the least ever due to army action taken place in North Waziristan.
“There is a severe lack of natural gas in Pakistan as a result of increasing rate of population and financial expansions”, reported by Mr. Jilani. The government of Pakistan should send group of labors to Permian Basin, Texas for gaining expertise in mining technologies such as horizontal drilling and slick water fracturing so that they can fetch modern technologies with them to Pakistan.
The president and CEO of the Midland Energy inc. Mr. Anwar stated that, our company posses all the updated technologies and techniques for horizontal and fracturing with trained and experienced staff helps in attracting various foreign oil companies all over the globe.” Keep remembered that Mr. Anwar has been selected as best entrepreneur in multiple occasions.
In accordance to study conducted by American Energy Information Administration EIA in 20th July, 2013, “Pakistan is ranked as 9th biggest land having shale oil reserves up to 9 billion barrels representing 2.61% of the world’s crude oil fields, while the gas reserves showing 105 trillion cbft and holds 1.40% of global reserves. With reference to the governmental disclosures, EIA declared that by the year 2013, Pakistan was encountering acute shortage of natural gas almost 900 billion cbft; though the growth of natural gas has been mounted to over 80% relative to past 12 years.
