The United Kingdom has offered Pakistan $400 million to strengthen the capacity of the Geological Survey of Pakistan.
The offer was discussed during a meeting between Federal Minister for Petroleum Ali Pervaiz Malik and British High Commissioner Jane Marriott. Both sides agreed to expand cooperation between Pakistan and the United Kingdom in oil and gas, as well as across the wider minerals sector.
During the meeting, the British side indicated its willingness to provide $400 million in assistance for capacity building of the Geological Survey of Pakistan. Ali Pervaiz Malik said steps were under way to enhance institutional capacity in the energy sector. He said cooperation between geological surveys would support development in the minerals sector.
The minister said British companies could work in partnership with Pakistani public sector institutions. He also invited British firms to consider investment in offshore oil and gas exploration in Pakistan.
British High Commissioner Jane Marriott said Pakistan presented significant opportunities for investment. The meeting also reviewed a diagnostic assessment for the restructuring of the Oil and Gas Regulatory Authority (Ogra).
