Petroleum division kicks off feasibility study on strategic reserves

Pakistan's petroleum division has launched a crucial feasibility study to explore the establishment of strategic petroleum reserves (SPR). The government has appointed the international consultancy firm Wood Mackenzie to undertake this vital assessment, following a rigorous competitive bidding process that saw four firms submit proposals.

Federal Minister for Petroleum Ali Pervaiz Malik chaired the kick-off meeting with Wood Mackenzie representatives. The meeting, which also included stakeholders from various government bodies and related industries, focused on defining the study's scope, objectives, and timelines. Key entities present included Attock Refinery Limited, the Pakistan Institute of Development Economics, Government Holdings (Private) Limited, the Ministry of Maritime Affairs, and Pakistan LNG Limited.

Wood Mackenzie's Vice President Christopher Darry, Director Chris Brown, Principal Consultant Jordan Macdonald, and Senior Vice President Aamir Malik were among those who attended. The information ministry stated that the minister was briefed on the study's parameters, and the participants agreed on the assignment's architecture and schedule. The initiative signifies a proactive step by the Pakistani government to enhance its energy security through strategic reserves.

“

The minister was briefed on the scope and objectives of the study, following which the meeting discussed and agreed on the timelines and overall architecture for the assignment