Tullow to invest $5bn in oil, gas

Tullow Oil Pakistan (Ltd) on Tuesday expressed interest to invest $5 billion in oil and gas sector in remote areas of Pakistan. In this connection a delegation of Tullow Oil led by Paul Mc Dade called on Federal Minister for Inter-provincial coordination Salim Saifullah Khan. The delegation apprised the minister of plans and projects as well as investment made by Tullow Oil Company in oil and gas exploration in Pakistan. The company has so far invested $200 million and further desires to invest $5 billion in oil and gas sector. It has started production from Chachar Oil Field, Sindh, and is presently working on five blocks in NWFP and intends to work on three blocks in Balochistan. Talking to the delegation the minister said prudent policies of the government had made Pakistan a most conducive country for foreign investment in the entire region.

Source: The News