The Pakistani government is receiving assistance from the Special Investment Facilitation Council in the exploration of new petroleum deposits, including shale gas.
To increase Pakistan’s potential for shale and tight gas, the Oil and Gas Development Company Limited (OGDCL) of Pakistan and the China Central Depository and Clearing Company (CCDC) have inked a Memorandum of Understanding (MoU).
As part of the agreement, CCDC will help OGDCL with exploration and production by offering drilling and upstream oil field services. Through this agreement, energy self-sufficiency will be attained by utilizing Pakistan’s energy resources.
It is anticipated that the MoU will make the nation rely more on natural resources and less on imports.
OGDCL has committed 30 million dollars to develop shale gas reserves to suit the country’s energy needs. The goal of this partnership with China is to meet rising demand for energy by making use of regional resources.
