In the most recent data collected, Pakistan stands at 152 on the United Nation’s Human Development Index (HDI). The HDI is a measure of a country’s growth that encompass the people’s average life span, accessibility to education as well as decent standards of living. It is only right for the nation’s leader, Prime Minister Imran Khan, to want to look for solutions. And according to the United States Energy Information Administration (EIA), Pakistani land may be housing 9 billion barrels of petroleum and 105 trillion cubic feet in natural gas (including shale gas) reserves .
According to local news press, the Daily Times Pakistan, one such move toward bettering the nation’s economy involve setting talks to specifically boost the Pakistani economy during the Prime Minister’s visit to the South East Asian nation of Malaysia. Malaysia is purportedly to receive a 7% stake in Oil & Gas Development Company Ltd (OGDCL). The state-owned OGDCL has decided to sell off a number of its subsidiary businesses which include 18 blocks up for (bidding) grabs to external companies which include Malaysia’s very own Petronas.
The Pakistani government owns a major stake of 76% in the OGDCL which enables strategic partnerships between foreign nation government bodies to be drawn up. Indirectly, this also means fresh funds and transfer of technology between the partnering nations.
The biggest stakes that include Mari Petroleum and Pakistan Petroleum are currently in discussion as to which partner would be most strategic. The Pakistani Ministry of Petroleum has also mentioned that invitation to Malaysia’s energy company, Petronas, has been extended, along with other local oil & gas companies. Pakistani press has also reported that Malaysian investors will be sought for refinery and liquid petroleum gas projects in the South Asian nation. It is understood that the Islamabad government selected Malaysia’s Petronas to consider LNG infrastructure projects in Pakistan.
Sources:
- https://dailytimes.com.pk/548747/mysterious-dashed-hopes-of-oil-and-gas-discovery-in-pakistan/
- https://www.eia.gov/international/analysis/country/PAK
- https://www.upstreamonline.com/exploration/petronas-sized-up-for-pakistan-exploration-acreage/2-1-747360