Pakistan Seeks Oil Investments from the Gulf
(MEBG) - Pakistan offered Kuwait investment opportunities in its up and downstream oil sectors. The offer includes two projects worth up to $1.4 billion to build gas and products pipelines, reported Gulf-Daily News.
The Pakistani Petroleum Minister Usman Aminuddin who visited Kuwait, stated that Pakistan expects a rapid responses to proceed with the pipeline projects. He said that each of the proposed pipelines could cost between $600-$700 million.
A Pakistani official said that talks are held with several potential investors, including Gulf states, to take stakes in a gas pipeline project.
A maximum of 49 percent is on offer while the state would hold the remaining 51 percent. Another 49 percent stake is on offer in the products pipeline, while Pakistan and its refinery partner the UAE would hold a controlling 51 percent.