OGDCL and MOL signs ‘MOU’ on stretgic cooperation

Islamabad: Prime Minister Shahid KhaqanAbbasi on Wednesday witnessed signing of an MoU between the Oil and Gas Development Company Limited (OGDCL) and MOL Group for a strategic cooperation initiative to evaluate future potential business opportunities in international upstream exploration and production, Radio Pakistan reported.

According to the press release issued by the Prime Ministr’s media office here, the Memorandum of Understanding (MoU) was signed by Graham Balchin, Managing Director/Chief Executive Officer, MOL Pakistan Oil and Gas Company B.V, and Zahid Mir, Managing Director OGDCL.

The strategic cooperation would lead to mutual exchange of technical knowledge and industry experiences, allowing for further discussion of potential international upstream growth synergies and possible partnerships, the statement said.

Earlier, Chief Operation Officer of MOL Group Dr. Berislav Gaso also called on the prime minister and briefed him about various successful business ventures of his company in Pakistan.

Berislav Gasco thanked the prime minister for the continued support of the government towards facilitating the company in undertaking profitable business ventures in the country.

He also appreciated investment-friendly policies of the government and expressed keen desire of his company to explore investment opportunities in Balochistan, in addition to the existing operations at various places in the country.

The prime minister stated that the government was committed to provide every possible facilitation to the investors for exploring and benefiting from the huge potential existing in the country in various sectors, especially the oil and gas sector.

He also welcomed the desire of MOL Pakistan to extend its operation and undertake business ventures in Balochistan.

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