By Our Staff Reporter
Oil & Gas Development Company Limited (OGDCL) and PARCO on Thursday signed a Memorandum of Understanding for new projects, as part of business diversification and energy transition strategy.
This MOU was signed for collaboration and Joint Venture Opportunities in the Energy Sector including Oil & Gas infrastructure projects. Both sides will constitute joint working groups to evaluate opportunities, undertake feasibilities and establish joint ventures for commercially, technically, and economically feasible projects.
OGDCL & PARCO have joined hands to explore business growth opportunities to ensure term sustainability and enhance shareholders’ value. In the 1st phase, world-class consultants would be engaged to identify and evaluate new opportunities. Both companies have also identified certain specific projects and areas of cooperation, which will help materialize tangible progress on a fast-track basis.