ISLAMABAD: Minister for Energy and Petroleum Omar Ayub Khan right here on Saturday stated that the bottom breaking of Khalifa Level Refinery mission might be carried out by finish of this yr, ARY Information reported.
In a press release, Omar Ayub stated, “The $eight bn mission is a three way partnership of PARCO and the United Arab Emirates.”
He additional stated that the Khalifa Level Refinery would have output capability of 250,000 barrels per day.
The minister stated that the federal government would announce a brand new oil and gasoline exploration and manufacturing coverage within the subsequent few months.
“We will even provoke public sale of 40 new oil and gasoline blocks from December this yr. This can generate good exercise in oil and gasoline sector.”
Earlier on January 7, then Minister for Info and Broadcasting Fawad Chaudhry had stated the United Arab Emirates (UAE) would arrange an oil refinery in Pakistan.
In response to particulars, this determination had been taken through the Crown Prince of Abu Dhabi Sheikh Mohammad bin Zayed Al Nahyan’s go to to Pakistan.
Whereas talking to the media, the minister had stated such an funding would additional enhance the cordial ties between Pakistan and the UAE.