ISLAMABAD (APP) - A Norwegian Exploration and Production company here on Wednesday showed keen interest to explore possibilities of investing in oil and gas sector of Pakistan. A delegation of Statoil , Norwegian E&P company, led by Eigil Resmussen, Manager Exploration Middle East visited Islamabad Chamber of Commerce and Industry (ICCI) and exchanged view with business community. Resmussen told businessmen that Statoil, operating in 40 countries, has over 35 years experience in oil and gas exploration and production and has developed Norway as one of the worlds leading petroleum regions. He said the company was focusing on Pakistan to extend its international presence in this part of the world. He showed satisfaction on the conducive business environment in Pakistan and expressed his keen desire to invest in oil and gas sector. On this occasion, representative of Weatherford, one of the largest oil service provider, gave a detailed presentation on the opportunities in oil and gas field and informed that Pakistan has all sorts of available resources and potential for investment and tremendous growth in this sector. Speaking on the occasion, ICCI President, Zahid Maqbool highlighted great investment opportunities in oil and gas sector and said that it is still under-explored area. Giving official estimates, he said, Pakistan has 27 billion barrels of estimated oil reserves, of which just 3 percent has been explored while the country has estimated 280 trillion cubic feet of natural gas reserves, out of which about 42 percent has been explored so far. This shows huge potential for E and P investors in Pakistan, the ICCI president remarked. He said the government was planning to offer about 50 new sites for oil and gas exploration through open bidding to cut its reliance on oil imports. Besides, he added, new petroleum policy of the country provides good incentives and concessions to investors and urged that Statoil should take advantage of these incentives by making investment in oil and gas sector of Pakistan.