PESHAWAR: Khyber Pakhtunkhwa Chief Minister Sohail Afridi chaired a briefing on the transfer of shares for the Miran Block to partner institutions. Representatives from the provincial government, the state-run Oil and Gas Development Company Limited (OGDCL), and other partner institutions attended the meeting.
During the briefing, it was announced that 49 percent of the shares in the Miran Block have been transferred to OGDCL, while 51 percent will remain with KPOGCL. This project is seen as the beginning of a new era in oil and gas exploration and discovery in the province.
Chief Minister Sohail Afridi emphasized that the discovery of oil and gas will enhance local employment, businesses, and industry, stating that the local population always has the first claim on natural resources. He assured that all decisions would be made in the best interest of the local community.
The briefing also revealed that the Miran Block Consortium will be led by OGDCL, with GHPL and PPL as partners.
The consortium is set to invest 51 percent of the shares held by KPOGCL, leading to an investment of approximately Rs 22 billion in Khyber Pakhtunkhwa. Additionally, the provincial government and KPOGCL will save Rs 12 billion due to this agreement.
Sohail Afridi further noted that Khyber Pakhtunkhwa is progressing towards self-sufficiency in the energy sector and exploring new sources of income.
He promised that every possible facility would be provided to investors and for industrial development within the province, with a firm commitment to maintaining law and order to protect investments.
The provincial government is also working on energy projects beyond conventional norms and will offer all necessary support for the growth of the industrial sector.
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