Saudi, UAE envoys discuss energy cooperation, joint ventures with Omar Ayub

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Zubair Qureshi

Islamabad

Ambassadors of the Kingdom of Saudi Arabia and the United Arab Emirates Nawaf bin Saeed Ahmed Al-Malki and Hamad Obaid Ibrahim Salem Al-Zaabi called on Federal Minister for Energy Omar Ayub Khan on Wednesday and held meetings separately to discuss various projects and initiatives undertaken by their countries with Pakistan.
In his meeting with the Saudi Arabian envoy, Omar Ayub Khan was joined by Special Assistant to Prime Minister on Petroleum Nadeem Babar & Ali Raza Bhutta and they deliberated on joint ventures by Pakistan & the Kingdom in petroleum and energy sectors.
The minister welcomed the recent steps taken by the Kingdom to shore up oil prices in the international market and hoped it would stabilize the situation in the region. He also termed the 41st GCC summit a great initiative of the Kingdom that aimed at resolving differences and would usher in a new era of progress and prosperity of the region as well as the world.
The minister briefed the envoy about the progress of various energy projects in lieu of investment-friendly policies introduced by the current government in diverse fields for thriving economic development of Pakistan. Omar Ayub Khan was of the view that the diversified market of energy sector was one of the prime investment destinations to boost the economic growth of the country.
He also told the Saudi dignitary that the government was focusing on energy projects under new renewable energy policy to harness local resources for power generation and revival of exploration and production activities in oil & gas sector would attract investment in the country.
The Saudi ambassador acknowledged the efforts by the Minister & his team for Pak-Saudi projects in the energy sector. He assured that the kingdom would continue to work with Pakistan for strengthening bilateral relations between the two brotherly countries.
The federal minister for energy Omar Ayub Khan also held a meeting with Ambassador of the United Arab Emirates (UAE) Hamad Obaid Ibrahim Salem Al-Zaabi who called on him at his office.
In the meeting, the Ambassador discussed the progress on current projects in the petroleum sector and explored opportunities to further the cooperation in the energy sector of Pakistan. The minister lauded the cooperation of the UAE in energy sector and said that Pakistan greatly valued its economic relations with UAE.
The Minister highlighted the government of Pakistan’s policies to revamp the energy sector including oil and gas. He said that the government is fully committed to diversify the outlook of the energy market while making it more competitive and efficient.
The UAE ambassador expressed his country’s interest in further investment in the energy sector. He said that the collaboration in energy sector would provide an impetus to economic ties between brotherly countries.