Shaheen Energy and Anton Oilfield Sign Rs20bn Gas Investment MoU

ISLAMABAD: Shaheen Energy (Pvt) Ltd and Anton Oilfield Services Group from China have formalized a memorandum of understanding (MoU) to explore substantial investment opportunities in Pakistan’s gas sector, aiming for an investment of approximately Rs20 billion over the next three to five years.

The agreement aligns with the government’s recent policy reforms, which have opened new avenues in the domestic gas market and upstream gas sector projects. According to a statement from Shaheen Energy, the companies will focus on leveraging the amended Petroleum (Exploration & Production) Policy 2012, which allows exploration and production companies to sell up to 35% of their pipeline-specification gas to licensed third-party buyers.

This policy amendment, introduced through a statutory regulatory order in 2024, marks a significant shift in Pakistan’s gas sector, enhancing commercial flexibility for eligible gas producers and fostering private investment in gas processing and transportation. This development is expected to bolster the country’s energy landscape, potentially leading to increased energy security and economic growth.

Looking ahead, both companies are set to initiate discussions on specific projects and timelines, with an emphasis on aligning their investment strategies with the government’s energy policies. The collaboration is anticipated to not only enhance gas production but also create job opportunities and stimulate local economies.