Islamabad:
As Pakistan celebrates the announcement of the president of the United States, Donald Trump, of the joint development of Pakistan’s oil reserves, Washington has not indicated whether his Exxonmobil energy giant will return to participate in the offer of oil and gas at high gas fields.
Although Pakistan and the United States have a long relationship history, American oil and gas companies have not remained very active here. The two provinces of Pakistan, Khyber-Pakhtunkhwa and Baluchistan, are rich in oil and gas deposits, however, security challenges have hindered progress in potential projects.
The distrust of Pakistan and the United States still prevails as conspiracy theories suggest that the fields on the high in the Marinas of Karachi have important hydrocarbon reserves.
Many people believe that Pakistan did not allow Exxonmobil to go further at sea for exploration on the high seas during the mandate of the Pakistan government Tehreek-E-Insaf (PTI). The reports indicate that the US company sought access to an additional area in the Kekra field to evaluate the prospects of finding oil and gas, but Pakistan expressed doubts.
Now, the president of the United States has reached a new agreement for the development of oil and gas field in Pakistan. It arrives at a time when Islamabad is inviting foreign companies to present offers for fields on the high seas, which will open on September 30.
The background discussions with officials revealed that the United States had dozens of private energy companies, but there were no signs that would participate in the development of field. Pakistan expects Exxonmobil to return to a new exploration company on the high seas.
However, Pakistani officials point out that Trump’s announcement is just a commitment that American energy companies will come to Pakistan. “It will be clear in the next few days when the two countries will begin official level conversations by including energy companies to seek opportunities for joint companies,” said an official.
This is an encouraging news since the United States has inclined towards India in the past. Even Indian oil and gas companies had formed joint companies with US companies.
Previously, Washington even refused to export liquefied natural gas (LNG) to Pakistan and showed interest in dealing with Delhi. At that time, an official of the United States Embassy told the media that Indian companies had entered into joint companies with US companies; Therefore, the doors for LNG trade were open to India, not in Pakistan.
Lately, the president of the United States has hinted at the investment of American companies in the Mineral sector of Pakistan. US Exim Bank is one of the financiers interested in pumping capital to the Reko Diq Copper and Gold Mining project.
American companies are also interested in forgeal joint companies with Pakistani companies in the mineral sector, which has estimated a potential worth $ 8 billion. The experts call it a new openness in a bilateral relationship between Pakistan and we will clarify the way for remarkable investment.
