Thursday, 23 May 2024, 08:02:37 am

MoU signed to explore, pursue green hydrogen opportunities
March 30, 2023

Pakistan's leading exploration and production companies have jointly signed a Memorandum of Understanding (MoU) to explore and pursue green hydrogen opportunities within and outside the country.

The MoU was signed by the Managing Directors of Oil and Gas Development Company Limited, Pak-Arab Refinery Limited, Pakistan Petroleum Limited, Mari Petroleum Company Limited, and Government Holdings Private Limited on behalf of their respective companies in Islamabad.

The collaboration aims to drive the energy transition towards a more sustainable future, leveraging each company’s expertise and resources.

Federal Secretary Petroleum Division, Muhammad Mahmood, witnessed the MoU signing ceremony.

Under the MoU, these companies will consider joint venture projects and areas of mutual cooperation for green energy initiatives.

The companies will also establish a joint fund to raise equity for hydrogen projects. As a first step, feasibility will be conducted to formally initiate the project.