Exploration and Production (E&P) companies have voiced frustration over delays in implementing the amended E&P Policy 2012.
“The companies that pledged $5 billion in investments in Pakistan’s oil and gas sector to Prime Minister Shehbaz Sharif are still waiting for the implementation framework, which is essential to enforcing the amended policy,” senior officials told The News.
On July 6, 2024, the prime minister formed a 20-member committee led by Deputy PM Ishaq Dar to address gas-related issues and enforce the amended E&P Policy 2012. Despite three to four meetings, progress on the necessary implementation framework has stalled, as it requires submission to ECNEC per the CCI’s directive. Dar emphasized that any framework must align with the CCI’s January 2024 decision.
Three months ago, the Petroleum Division reassigned the DG of Petroleum Concessions (DGPC), who supported auction-based private sector gas sales. The acting DGPC, appointed for 90 days in August, suffered a heart attack but has since resumed duties.
The Petroleum Division confirmed his performance as satisfactory, while no specific targets were set for his term. In the interim, DGPC, in partnership with a Chinese firm, conducted three coastal surveys and began data-sharing for exploration.
