ISLAMABAD: President Asif Ali Zardari on Tuesday said Pakistan attached great value to its fraternal ties with Bahrain, stressing the need for both countries to translate their relationship into a “mutually rewarding economic partnership,” a statement from his office said.
The statement followed a meeting between Zardari and General Sheikh Mohammad bin Isa bin Salman Al-Khalifa, the commander of the National Guard of Bahrain, who called on him at the presidency in Islamabad.
Zardari said Pakistan and Bahrain enjoyed excellent relations, which needed to be further strengthened in areas of mutual interest.
“He [Zardari] highlighted the need to translate the bilateral relations between Pakistan and Bahrain into a mutually rewarding economic partnership,” the president’s secretariat said.
Zardari told Al-Khalifa it was his firm belief that Pakistan would grow stronger as it had immense potential to become a prosperous country. Al-Khalifa congratulated the president on assuming office for a second time and hoped the South Asian country would move forward under his leadership, the statement said.
The Bahraini official noted that both countries enjoy excellent defense cooperation, reiterating the Gulf country’s continued support for Pakistan. Al-Khalifa invited Zardari to visit Bahrain, the president’s secretariat said.
Al-Khalifa met Prime Minister Shehbaz Sharif last Wednesday to discuss bilateral trade, defense cooperation and the developing humanitarian crisis in Gaza.
Pakistan enjoys fraternal relations with Gulf Cooperation Council (GCC) countries including Bahrain. Islamabad also has strong defense and trade ties with them and routinely holds military exercises with friendly states to enhance combat skills.
Cash-strapped Pakistan set up the Special Investment Facilitation Council (SIFC), a hybrid civil-military forum, in June 2023. The SIFC was established to attract international investment, particularly from Gulf countries, in the country’s key economic sectors. The council was set up as Pakistan faced tough economic challenges amid dwindling forex reserves and a rapidly depreciating national currency.
Pakistan’s president calls for translating ties with Bahrain into ‘economic partnership’
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Pakistan’s president calls for translating ties with Bahrain into ‘economic partnership’
- Commander of Bahrain’s National Guard calls on President Asif Ali Zardari in Islamabad
- Both discuss bilateral relations, trade, defense and other matters of mutual interest
State-run firm announces discovery of new gas reserves in Pakistan’s northwest
- The exploratory well in Kohat district will help produce 1.58 MMSCFD of gas
- The discovery will help improve energy security of the country, company says
KARACHI: The Pakistan Petroleum Limited (PPL), a state-run oil and gas exploration firm, this week announced the discovery of new gas reserves in the northwestern Khyber Pakhtunkhwa (KP) province, according to a Pakistan Stock Exchange (PSX) filing.
The new reserves were found in TAL block at Bilitang-1 exploratory well in Khyber Pakhtunkhwa’s Kohat district, according to the PPL filing submitted in the PSX.
Pakistan faces a widening energy gap due to rising demand and limited domestic output, forcing it to rely heavily on costly fuel imports that expose the economy to global price swings.
The exploratory well, spudded in on Aug. 10, reached target depth of 4011 meters.
“Based on interpretation results of LWD/wireline logs data, Hangu/Lumshiwal formations (exploratory targets) were initially tested successfully at rate of 1.58 Million Standard Cubic Feet per day (MMSCFD) gas at 40/64” choke against Wellhead Flowing Pressure (WHFP) 164 Pounds per Square Inch (Psi),” the PPL said in a letter to PSX dated Jan. 2.
“The said discovery will also help and contribute toward improving energy security of the country from indigenous resources and add to the hydrocarbon reserves base of PPL, its Joint Venture Partners and the country.”
The development came a day after the state-run Oil and Gas Development Company Limited (OGDCL) announced the discovery of oil and gas reserves in Datta formation at an exploratory well drilled in Kohat.
“During case-hole Drill Stem Test (DST-02) in Datta Formation (Jurassic age), the well flowed at the rate of 4,100 barrels of oil per day (BOPD) and 10.5 million standard cubic feet per day (MMSCFD) of gas,” OGDCL Company Secretary Wasim Ahmad said in a PSX filing.
Pakistan has reported several oil and gas finds in recent months as it steps up efforts to boost domestic output.
In Sept., Pakistan Petroleum Limited announced a discovery in Attock district of Punjab, while Mari Energies reported a new gas find in North Waziristan earlier this year.
