Naveed siddiqui
ISLAMABAD : Four major national companies will collaborate for the greenfield refinery project at Gwadar Port. The MoU signing ceremony was held at the head office of Oil and Gas Development Company Limited (OGDCL). The companies Oil and Gas Development Company Limited (OGDCL), Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL) and Government Holdings Private Limited (GHPL) share the giant investment strategy. The project will see significant equity investment from leading global oil and gas companies. The project will include an integrated refinery petrochemical complex and petrochemical facility in Pakistan with the capacity to process at least 300,000 bpd of crude oil. The Integrated Refinery Petrochemical Complex will consist of several parts, including marine infrastructure, petrochemical complex, storages for crude oil and refined utilities, pipeline connectivity, etc. Secretary Petroleum Captain (Rtd) Muhammad Mahmood delivered his inaugural address. While clarifying the salient points of the Greenfield Refinery Policy, I highlighted the determination of the Petroleum Division for the development of the petroleum sector. The Minister of State, Dr. Mossadeq Masood Malik, informed about the details of the project and said that the project will bring economic development, foreign exchange. The national economy will get benefits in terms of savings, energy security, employment opportunities and social improvement.
