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Poland’s trade with Pakistan reached Rs48bln in 2016: envoy


ISLAMABAD: Polish Ambassador to Pakistan Piotr Opalinski on Wednesday said his country's trade volume with Pakistan stood at around Rs48 billion during the year 2016.

In a brief interview with APP, he expressed confidence that Poland’s trade volume with Pakistan, which was 400 million euros last year, would increase in the coming days, as it is an attractive destination for foreign investment in diverse fields.
The ambassador, who also has sufficient command to speak in Urdu language, said the two countries are enjoying good friendly and brotherly relations and these would further augment with each passing day.
He said, "Pakistan and Poland have been enjoying cordial relations since Pakistan came into being." Opalinski said that a Polish oil and gas company, PGNiG, is operating in Pakistan since 1997, which has planned to step up its exploration and production activities and take the business volume to $100 million per annum.
The company, which is celebrating its 20th anniversary in Pakistan, would drill 14 more oil and gas exploration wells in hydrocarbon potential areas and play an important role in meeting Pakistan's growing energy needs, he added.
The Polish oil and gas company, PGNiG has so far invested over $125 million 
in Pakistan, he said, adding that the daily production from the Rehman field stood at 24mmscfd from four producing wells, which would be increased up to 90mmscfd gas with full field development.  The increase in production required advanced technologies (horizontal wells, multiple transverse hydraulic fracturing) for which an investment of more than $300 million would be made.
"PGNiG is in active pursuit to increase it footprints in the Pakistani's upstream oil and gas sector and is also interested to develop the shale gas deposits here," hesaid. In addition to investment in the oil and gas sector, efforts are in hand to enhance cooperation in the defence and defence production sectors, the envoy added.
Source: The News