ISLAMABAD: Government Holdings (Private) Limited (GHPL) is working on a plan to enhance its shareholding in oil and gas fields that have proven reserves with the objective of ramping up domestic energy supplies to meet growing appetite.
GHPL, which is 100% owned by the government of Pakistan, monitors and manages the government’s working interests in upstream onshore and offshore oil and gas fields. With 133 joint ventures including 51 exploration licences and 82 development and production leases, GHPL is the fifth largest exploration and production company in Pakistan.
GHPL Managing Director Mobin Saulat told that “We have screened 133 fields and found out that five to seven have proven hydrocarbon reserves where we can increase our shareholding,”
He pointed out that GHPL had been working with foreign operators and the proposed plan would attract other companies to follow the model.
Saulat revealed that necessary work had been done and joint-venture companies had come up with a good response to the proposed plan. The plan will be submitted before the GHPL board of directors for approval.