ISLAMABAD (APP) - Minister for Petroleum & Natural Resources Syed Naveed Qamar Thursday said that the government has announced Petroleum Policy 2009 providing liberal incentives to E&P Companies to attract investment and to accelerate exploration of hydrocarbon in the country with the clear objective to increase domestic oil & gas production and to reduce burden of imported energy. The Minister earlier had directed the relevant authorities to expedite exploration and to sign at least 35 licenses and Concession Agreements within three months and make all possible efforts to bring the discoveries into production for addressing immediate energy needs of the public. In light of Ministers directions, the Ministry has already signed two licenses/PCAs on December 24, last and now another six licenses/PCAs are being signed with three E&P companies including two public sector and one private sector company. The Minister for P&NR also witnessed the signing ceremony attended by eminent professionals of the Ministry and the Industry. The Licenses/agreements were signed by Mr. Mahmood Salim Mahmood, Secretary Petroleum and Natural Resources, Mr. Mohammad Naeem Malik, Director General Petroleum Concessions, Mr. Shah Mahboob Alam, Managing Director, OGDCL, Mr. Khalid Rehman, Managing Director, PPL and Mr. Sajid Nawaz, Chief Executive Officer, POL.