PESHAWAR: The federal government will set up the Institute of Petroleum Technology at a cost of Rs2 billion in District Karak approved by the Central Development Working Party (CDWP) in its meeting held under the chairmanship of Sartaj Aziz.
Official sources informed that the institute will benefit all the provinces by generating a much needed specialised workforce for oil and gas exploration industry. This institute will be a state of the art institute in imparting quality education. Such an institution will be established for the first time in Pakistan with affiliations with international organisations such as the IWCF, API, SPE and AAPG.
The Institute of Petroleum Technology, will not only create quality graduates but would also help in increasing oil and gas production which will ultimately contribute the economy and foreign exchange.
The institute is designed to offer 3 years Diploma of Associate Engineering and a highly specialised 1 year and 6 months certification from International Wefi Control Forum, American Petroleum Institute (API) etc, not presently offered in Pakistan. The institute will primarily be for specialised certification like drilling and seismic and solution to oil and gas exploration business.
With recent discoveries, Karak is the hub of oil and gas and this institute will develop infrastructure and create employment opportunities. By spending Rs2 billion on this institute, specialised oil and gas professionals will be produced.
This viable and sustainable link between the government, oil industry, and academic services to the oil industry will be offered on a commercial basis. The institute will be established in government rented buildings.