Pakistan, Russia ink accord for offshore oil exploration

Source: Xinhua| 2019-02-06 22:52:18|Editor: Mu Xuequan
Video PlayerClose

ISLAMABAD, Feb. 6 (Xinhua) -- Pakistan and Russia on Wednesday signed an agreement for offshore oil and gas exploration activities in the southern Asian country, besides installation of a pipeline which would supply gas to Pakistan from the Middle East through the sea-link.

Pakistan's Petroleum Division said in a press release on Wednesday that Managing Director of Pakistan's Inter State Gas Systems Limited (ISGSL) Mobin Saulat and Deputy Chairman of Gazprom International of Russia Vitaly Markelov signed the inter-corporate agreement in Islamabad.

Pakistan's Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan also witnessed the signing ceremony. Khan welcomed and appreciated the Russian company's interest in the offshore oil and gas exploration activities in Pakistan, especially in the offshore gas pipeline project.

On the occasion, the Pakistani minister termed the project as a manifestation of multi-faceted cooperation between the two countries.

As a part of the agreement, Pakistan will import around 500 million to 1 billion cubic feet of gas per day from Russia, which will be transported to the South Asian country through the sea-link.

The construction of the gas pipeline is likely to be completed in the next three to four years, the press release said.