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US-BASED OXY TO INVEST US$150 MLN IN PAKISTAN PETROLEUM SECTOR.

AsiaPulse News, March, 2002

ISLAMABAD, March 18 Asia Pulse - Oxy Petroleum Company USA, will invest a further US$150 million in Pakistan's petroleum sector, executive vice president John Winterman has said during a meeting with the Federal Minister for Petroleum and Natural Resources, Usman Aminuddin, in Islamabad.

He also briefed the minister about the pace of work on the ongoing exploration and production activities in Pakistan being carried out by the company. He said that Oxy was eager to enter a joint venture arrangement for possible exploration in the offshore area and expressed company's willingness to participate in the privatization activity in Pakistan.

Usman Aminuddin told Winterman that Pakistan was bestowed with rich hydrocarbons resources and invited the company to expand...

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