Pakistan launches strategic petroleum reserves feasibility study as wood mackenzie wins competitive tender
Pakistan launches strategic petroleum reserves feasibility study as wood mackenzie wins competitive tender
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Open on ProfitPakistan launches strategic petroleum reserves feasibility study as wood mackenzie wins competitive tender
ISLAMABAD: The Petroleum Division has launched a feasibility study for establishing Strategic Petroleum Reserves (SPR) in Pakistan, with international energy consultancy Wood Mackenzie selected through a competitive tender process to assess how the country can strengthen its preparedness against potential oil supply disruptions.
Federal Minister for Petroleum Ali Pervaiz Malik chaired the kick-off meeting for the study, where he was briefed on its scope, objectives and proposed timelines. Four bids were received during the competitive tender process, following which Wood Mackenzie was selected to undertake the assignment.
The meeting discussed and agreed on the overall architecture and timelines of the study, which is aimed at providing the government with an evidence-based assessment before it takes a final decision on the establishment of strategic petroleum storage capacity in the country.