Islamabad: The Federal Minister for Petroleum, Ali Pervaiz Malik, convened the inaugural meeting for a feasibility study on establishing Strategic Petroleum Reserves (SPR) in Pakistan. This initiative sees M/s Wood Mackenzie, an international energy consultancy, at the forefront of the study following a competitive tender process that attracted four bids.

According to Press Information Department, the minister was briefed on the scope and objectives of the study during the meeting. Discussions centered around timelines and the overall framework for the assignment. The minister emphasized the government’s commitment to advancing Pakistan’s energy security, linking it to national security. The strategic initiative aims to build resilience against supply disruptions, highlighted by recent events in the Strait of Hormuz.

The minister noted that the study will enable evidence-based decisions regarding the SPR initiative, with a focus on practical solutions tailored to Pakistan’s needs. The Wood Mackenzie team stressed the importance of addressing energy security amid global changes and supply challenges.

The study’s scope includes assessments of technical feasibility, safety, and operational integrity of proposed storage facilities, as well as policy and regulatory frameworks. It will also explore legal, financial, and institutional arrangements, including potential public-private partnerships. The assessment will consider existing infrastructure, providing estimates for capital expenditure and implementation timelines.

Minister Malik directed stakeholders to support Wood Mackenzie by providing necessary data and technical input for timely completion of the study. A steering committee will be established to monitor progress. Attendees from Wood Mackenzie included Christopher Darry, Vice President; Chris Brown, Director; Jordan Macdonald; and Aamir Malik, Senior Vice President, alongside representatives from ARL, PIDE, GHPL, Ministry of Maritime Affairs, and Pakistan LNG Limited (PLL).