Oil & Gas Development Company Limited (OGDCL) and Pak-Arab Refinery Company Limited (PARCO) inked a Memorandum of Understanding (MoU) for new projects, as part of a business diversification and energy transition strategy.
The MoU was signed for collaboration and joint venture opportunities in the energy sector including oil and gas infrastructure projects, according to a press release issued on Friday.
According to the MoU, both sides will constitute joint working groups to evaluate opportunities, undertake feasibilities and establish joint ventures for commercially, technically and economically feasible projects.—APP
