Pakistan’s Petroleum Minister Ali Pervaiz Malik met Shandong Xinxu Group Chairman Hou Jianxin on Thursday to discuss expanding cooperation and potential investment in Pakistan’s energy sector, the petroleum ministry said.
Hou said the Chinese company was interested in investing across Pakistan’s energy value chain and proposed a long-term strategic partnership, according to a ministry statement.
Shandong Xinxu, which has expertise in upstream oil and gas operations, expressed interest in collaborating to increase Pakistan’s hydrocarbon production through field optimisation, drilling services and production enhancement.
The company also proposed modernising refineries, including installing a fluid catalytic cracking unit to convert furnace oil into higher-value petroleum products.
Hou said the company was interested in establishing an energy equipment manufacturing facility in Pakistan to serve domestic demand and export markets in the Middle East.
He also proposed cooperation in offshore oil exploration and development, lead mining, a sulphur processing plant, and integrated energy cities along Pakistan’s coastline combining LNG infrastructure, petroleum storage and petrochemical industries.
Malik said Pakistan was reviewing its energy sector to enhance energy security, attract investment and promote value addition, the statement said.
He welcomed Shandong Xinxu’s interest in Pakistan and assured the company of the government’s support for viable investment proposals.
The minister directed the appointment of focal persons within the Petroleum Division to engage with the company on the proposals and ensure follow-up, according to the statement.
