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.
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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.
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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.