UAE keen to invest in Pakistan’s energy sector: envoy

ISLAMABAD: Energy Minister Omar Ayub Khan on Wednesday met Ambassador of United Arab Emirates (UAE) to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi to discuss ongoing cooperation in the petroleum sector and explore priority areas of mutual interest in the energy sector.

During the meeting, Omar Ayub congratulated and lauded the UAE leadership for sending a space mission ‘Amal’ to Mars and its successful entry into Mars’ orbit.

Thanking and extending his gratitude for the minister’s pleasant remarks, the envoy expressed the UAE’s keenness of further its investments in Pakistan’s energy sector.

He said collaboration in the energy sector would provide an impetus to economic ties between the two brotherly countries.

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Earlier this week, the UAE ambassador had expressed a keen interest to invest in the health and construction sectors of Punjab.

The UAE ambassador had called on Punjab Chief Minister Sardar Usman Buzdar on Monday to discuss ways promote bilateral relations.

“The UAE companies are are ready to invest in SEZs in Pakistan,” he had said. “A UAE visa centre will also be opened soon in Lahore.”

Meanwhile, in a separate meeting with Ambassador of Czech Republic Tomas Smetanka on Wednesday, Omar Ayub said the government was committed to diversifying the outlook of the energy market while making it more competitive and efficient.

Referring to the exploration and production activities, the minister said the government has recently carried out the bidding of 15 oil and gas blocks; minimum investment in these blocks will be over $21 million in three years. He said the government will be offering more new oil and gas blocks by the end of this year.

“The government is focusing on exploiting indigenous resources for electricity generation,” he added.

During the meeting, the Czech ambassador explored the areas of mutual interest in the energy sector, including investment in the oil sector and business in the LNG supply chain for a group of Czech companies visiting Pakistan by the end of next month.

 

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