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US firm interested in investing in oil and gas sector

Staff Report

ISLAMABAD: A delegation from Lincol Financial Group USA, headed by Roos Connelly, former chief operating officer of the Overseas Private Investors Corporation (OPIC), called on Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon and exchanged views on investment prospects in the oil and gas sector.

Mr Jadoon said that the government was taking concrete steps to exploit the untapped hydrocarbon resources in order to keep pace with the socio-economic growth rates and to overcome the energy shortfall in the country after 2010.

According to a press release issued on Friday, he said that the government was actively pursuing trans-border gas pipeline projects of Iran, Turkmenistan and Qatar as well as the import of LNG fuel.

He said the government was offering lucrative incentives to the investors in onshore and offshore oil and gas exploration and it would welcome foreign investment in these development activities.

Mr Connelly appreciated the tremendous growth of Pakistan’s economy in the last few years and vast potential available for investors in the oil and gas sector. He said Lincol Financial Group would take advantage of the investment opportunities in the oil and gas sector.

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