Islamabad: A significant meeting took place between Federal Minister for Petroleum Ali Pervaiz Malik and Ali Taha Al-Temimi, the Country Manager of the Kuwait Foreign Petroleum Exploration Company (KUFPEC). The discussions centered on enhancing collaboration in Pakistan’s oil and gas sector and addressing challenges to boost exploration activities.

Minister Malik underscored the government’s dedication to facilitating both foreign and local investors in the petroleum sector. He elaborated on reforms designed to improve the business climate, ensure regulatory efficiency, and create a supportive environment for exploration and production companies operating in the country.

Ali Taha Al-Temimi expressed appreciation for the government’s efforts and discussed KUFPEC’s intentions to participate in Pakistan’s upcoming offshore bidding round. He detailed KUFPEC’s ongoing activities in Pakistan, noting the company’s cumulative investment of $1.5 billion since 1987.

Minister Malik welcomed KUFPEC’s interest in the offshore bidding round, emphasizing the government’s support for the petroleum sector as a driver of economic growth and energy security. He noted the significance of offering offshore blocks after a prolonged hiatus, highlighting the opportunity for both local and foreign investors.

The meeting concluded with a shared commitment to strengthen cooperation between the government and industry stakeholders, with the aim of ensuring a stable and prosperous energy future for Pakistan.