Pak-Kuwait agree to enhance cooperation in oil and gas sector
21 June, 2006
ISLAMABAD: Pakistan and Kuwait agreed to enhance the economic cooperation especially in oil and gas sector between the two countries.
These views were expressed during the meeting of Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon and Kuwait’s Petroleum Minister Sheikh Ahmed Fahad Al Ahmed Al Sabha here on Tuesday.
Welcoming the Kuwati Minister, Jadoon said that that Pak-Kuwait cooperation in the oil and gas sector would open new avenues of the cooperation among the two countries and underline the need to promote the existing interaction for the mutual advantages of the two friendly countries.
He said that there exists a lot of potential for the foreign investors in Pakistan’s oil and gas as well as mineral sectors and Kuwaiti investors could also taken benefit of the investment opportunities.
He said that the government is working on different projects including setting up Oil Refineries in order to the increase the volume of oil refining from 6 million tons per annum to 13 million tons per annum.
He said that that there is tremendous potential between Pakistan and Kuwait and there is much room for strengthening vital oil and gas cooperation as Kuwait has expertise in oil and gas sector and Pakistan would get benefit from this.
The minister expressed the hope that this cooperation would continue to grow and flourish in the days ahead for the advantage of the two countries.
The Kuwaiti minister said that both the countries have common interest and the petroleum cooperation would open up new avenues to enhance the bilateral relations between the two countries.
He said that Kuwait is not only taking part in setting up oil refinery in Pakistan but also interested in privatization process of State-owned oil and gas units.