——- Four leading Pakistani state-owned companies join hands for the Greenfield Refinery project
——- Saudi Aramco keen to invest 10 bln in Greenfield Refinery project
Statt Report
ISLAMABAD: In a historic collaboration, four leading Pakistani state-owned companies would join hands for the Greenfield Refin-ery project at the strategic Gwadar Port in Pakistan, ARY News re-ported.
The Memorandum of Understanding (MoU) signing ceremony took place at the head office of Oil and Gas Development Company Limited (OGDCL) on Thursday, a news release said.
The Pakistani state-owned entities, Oil and Gas Development Company Lim-ited (OGDCL), Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), and Government Holdings Private Limited (GHPL), will collaborate through a joint investment strategy. The project will have significant foreign investment from world-class oil and gas giants through equity participation.
The project envisions setting up an integrated refinery petrochemical complex with crude oil processing capacity of minimum 300,000 barrels per day (BPD) along with petrochemical facility in Pakistan. The integrated refinery petro-chemical complex shall comprise of various components such as marine infra-structure, petrochemical complex, storage for crude oil and refines utilities, pipeline connectivity etc.
Secretary Petroleum Captain (R) Muhammad Mahmood in his opening re-marks shared salient aspects of the Green Field Refinery Policy and under-scored the commitment of the Petroleum Division towards the development and growth of the Petroleum Sector.
Minister of State for Petroleum Divison, Doctor Musadik Masood Malik shared details of the project and its benefits to national economy by way of economic growth, foreign exchange savings, energy security, employment op-portunities and social uplift.
