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E&P firms show resilience, demand reforms

E&P firms show resilience, demand reforms

Interview with Mr. Owais Mir, Sustainable Energypreneur


Profile:

Mr. Owais Mir is the founder and Chief Executive of Dynamic Engineering & Automation (DEA) Group of companies. DEA is a leading energy solution provider with Mr. Mir, as the country’s one of the most influential business leaders. He has accompanied petroleum industry ministers and government officials of Pakistan during many conferences. He has been part of official Government Delegations with the perspective of road shows/ business development and inter-government negotiations.

Flagships projects undertaken:

  1. SSGC LNG import terminal
  2. Interstate Gas Pipeline (ISGSL)
  3. TAPI Infrastructure Feasibility
  4. Gulf-South Asia Gas (GUSA) Infrastructure Feasibility
  5. Iran-Pakistan-India Pipeline Infrastructure Feasibility
  6. UOP, UK/ SAF license Validation & Gas Infrastructure
  7. National health care initiation with Ministry of National Health Services, Board of Investment and Pakistan, Embassy in China by bringing Chinese health-tech giants to Pakistan
  8. LNG Import terminal
  9. Private LPG Import Terminals Optimization
  10. LPG Air Mix Applications
  11. Enabling the development of Special Economic Zone
  12. Initiated port efficiency and maritime affairs services in Pakistan and saved around USD 15-20 Million for the country through these value added services and supplies like Buoys and Tugboats.

Memberships:

Distinctive accomplishments:


PAGE: Tell me something about yourself, please:

Owais Mir: As the Founder and CEO of Dynamic Engineering & Automation (DEA) Group, I have over two decades of experience in the energy sector. My expertise spans project coordination, strategic planning, and LNG project development. I’ve worked with government organizations, international companies, and think tanks to drive Pakistan’s energy sector forward.

PAGE: How would you comment on the performance of the oil and gas exploration companies?

Owais Mir: The oil and gas exploration companies in Pakistan have shown resilience despite challenges. Recent discoveries by companies like MOL, UEPL, and OGDCL indicate potential for future growth. To enhance performance, it’s crucial to address issues like delayed payments, security concerns, and regulatory hurdles. With the right policies and investments, the sector can unlock its full potential.

PAGE: Delayed payments are a significant barrier to upstream companies’ ability to invest in their assets. What is your take on this?

Owais Mir: Delayed payments significantly impact upstream companies’ ability to invest in their assets and explore new projects. The circular debt crisis has severely impacted E&P companies in Pakistan, eroding liquidity and hindering their ability to invest. To mitigate this, the government and companies should prioritize timely payments, resolve the circular debt crisis, and explore financing options to support these companies.

PAGE: What must be done to develop Pakistan’s shale and tight gas potential, aiming to address the country’s energy needs through indigenous resources?

Owais Mir: To develop Pakistan’s shale and tight gas potential, we need to attract foreign investment, adopt advanced technologies, and create a favorable regulatory environment. This would not only enhance energy security but also reduce dependence on imported fuels. Encouraging E&P companies to focus on shale and tight gas exploration, investing in infrastructure, and establishing a supportive regulatory framework are essential steps.

PAGE: Last year, local and international firms announced an investment of $5 billion in Pakistan’s oil & gas exploration and production (E&P) sector. What is your perspective in this regard?

Owais Mir: The announced investment of $5 billion in Pakistan’s oil & gas exploration and production sector is a positive sign. It indicates growing confidence in the country’s energy potential. If utilized effectively, this investment can boost exploration activities, increase domestic production, and help bridge the energy gap, ultimately contributing to Pakistan’s energy security and economic growth.

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