Argentine Group Interested In TAP Gas Project
12 Jun 2009
ISLAMABAD: Argentinean oil and gas holding company Bridas Corporation on Wednesday expressed interest in participation in Turkmenistan-Afghanistan-Pakistan (TAP) gas pipeline project and exploration of gas in various parts of the country. A companys delegation, led by Carlos Bulgheroni, Chairman Bridas Corporation, visited the Board of Investment (BOI) to explore investment opportunities in Pakistan, especially participation in the TAP gas pipeline project and in exploration of gas fields of Balochistan and Sindh. In the meeting, Saleem H Mandviwala, Minister of State and BoI Chairman, BoI senior offices and representatives of the ministry of petroleum and natural resources were present. The BoI chairman highlighted the parameters of investment policy, which allows 100 per cent foreign equity in major sectors and full repatriation of profits and dividends in all sectors. It was told that average rate of return is almost 30 per cent and in some cases up to 50 per cent. The delegation was given a detailed presentation on the investment policy, incentive package and potential in the oil, gas and energy sector. Referring to opportunities for the private sector, the delegates were briefed about the current status of Pak-Iran gas pipeline project and Turkmenistan-Afghanistan-Pakistan (TAP) pipeline project. The delegation was also informed about Thar coal reserves, which are estimated at 175 billion tonnes, but are untapped. The delegation appreciated the hospitality extended to them during their visit in Pakistan. Mandviwala assured to extend all possible assistance required to them.
