Army Welfare Trust (AWT) has signed Memorandum of Understanding with KP Provincial Holding Company Khyber Pakhtunkhwa Oil & Gas Company (KPOGCL) for joint execution of projects in oil & gas upstream to downstream business.
The ceremony was held in Rawalpindi, AWT Headquarters and MoU was signed by Raziuddin CEO KPOGCL and Major General (retd) Hamid Mehmud COO AWT in the presence of AWT Managing Director Lt. General (retd) Khalid Rabbani.
AWT Managing Director Lt. General (retd) Khalid Rabbani expressed his keen interest in the exploration & production to cater for energy needs of fast-growing economy.
AWT Managing Director said : “We are committed to take every essential step in the right direction and this step to enter into energy sector by AWT will surely give a win-win situation to all the stakeholders, involved directly or indirectly.”
Speaking on the occasion, Nouman Akbar DGM KPOGCL expressed the views that this strategic alliance with AWT, will pave way for investments in exploration and production of the natural resources and hydrocarbons.
CEO KPOGCL Raziuddin lauded the efforts and thanked the AWT management for trust in shaking hands with KPOGCL. “We are committed to our vision that is “To Make Pakistan a self-sustainable country in energy-producing needs”.
He said KPOGCL plans to start detailed seismic in KP Province and stressed for regulatory clearances to proceed further.
He said “We jointly urge leading multinational/national E&P companies, groups, trusts etc. to come forward and make investments in the energy sector of Pakistan.”