PESHAWAR - Khyber Pakhtunkhwa Chief Minister Parvez Khattak has said that the province is endowed with rich natural resources of oil, gas and hydro potentials and his government will make every effort to get maximum output from these sources.
Presiding over a high-level meeting held at Khyber Pakhtunkhwa House in Islamabad, the chief minister approved restructuring the administrative framework of government owned oil & gas company and Pakhtunkhwa Hydel-Power Development Organisation (PHYDO). The restructuring will facilitate quick decision-making and hiring of key technical and administrative human capital on market based salaries. The KP government will also put sizable investment in its financial obligations for achieving the physical goals and attracting ample foreign direct investment (FDI) in the three sectors of oil, gas and hydropower.
Earlier representatives from MOL Pakistan Oil & gas Co led by Ali Murtaza Abbas, political advisor, met with the chief minister and presented a brief on the company’s performance in KPK. MOL Group a leading integrated oil & gas group in Central & Eastern Europe headquartered in Hungary, is a market leader in each of its core activities in Hungary, Slovakia & Croatia.
MOL Pakistan as operator of Tal Block has six successive discoveries to its credit. These are Manzala, Makori-1Mami-Khel-1, Maramzai-1, Margalla and Karak. Leasing of a few sites is yet in the process of approval at Federal Government. The Chief Minister was informed that the company is producing 306 mmscftd which is sufficient to meet the requirements of KPK, while the oil exploration is 15500 barrels per day. MOL has set up new plant starting production of 300 MTons of LPG in early next year. This will give a substantial relief to the LPG consumers.
Pervez Khattak appreciated various social responsibilities being met by MOL Pakistan. The participants of the meeting were informed that MOL was awarding merit scholarship for talented & deserving students, providing medical services and organising free medical & eye camps at various locations of area of operations. It has also contributed to a large number of water supply & purification scheme & sanitation in various villages and construction & improvement of Infrastructure.
It is also involved in construction of schools and provision of examination halls, construction of roads & pavements, construction of basic health units & medical wards, construction of mosques etc. With regard to environmental protection, the Company has launched plantation campaign in collaboration with district government authorities.