CPEC: CCOE reviews development plan summary in oil and gas sectors

ISLAMABAD, Nov. 5 (Gwadar pro)- Pakistani Cabinet Committee on Energy (CCOE) reviewed on Thursday afternoon the summary of the Development Plan for Pakistani Oil and Gas Sectors presented by the Petroleum Division to assist the Energy Working Group of China Pakistan Economic Corridor (CPEC).

The CPEC Energy Working Group will finalise its investment in the oil and gas sectors of Pakistan, according to the official details shared after the meeting.

The CPEC Energy Working Group will provide a comprehensive database of information on Pakistan's energy profile, forecast and various planned and agreed energy projects.

“The main objective of the plan is to assist the Energy Working Group of CPEC,” said a government spokesperson.

The committee directed the Petroleum Division to define specific policy of interventions within 30 days and present them to CCOE.

CCOE approved the summary of the Transmission System Constraints Removal Plan presented by the Power Division.

It was informed that the peak transmission capacity of the national grid system in July 2018 was 20,811 Megawatt (MW), and in August 2021 it was 24, 564 MW. In 2023, the transmission capacity is estimated to surge to 33,500 MW.

CCOE directed that in order to implement the ambitious plan, the Power Division should keep track of the developments.

The Federal Investigation Agency (FIA) presented the finding report on the status of Inquiry and Investigation on Petroleum Crises.

The meeting of the committee was held under the Chairmanship of the Federal Minister for Planning, Development, and Special Initiatives Asad Umar. The meeting was also attended by Advisor to Prime Minister Finance Shaukat Tarin, Minister for Energy Omer Ayub Khan, Minister for Maritime Affairs Ali Haider Zaidi, Advisor to PM on Commerce and Industries Abdul Razzaq Dawood and some other senior government officials.