The Petroleum Exploration and Production Policy aims at self-reliance in oil and gas production, reduction in dependence on imports and to reduce the energy import bill burden on trade.
It seeks to promote increased E&P activity in the onshore frontier areas by providing incentives. E&P companies will be allowed to construct and operate pipelines for local requirements and for exports of their share of petroleum based on an open-access (third party) regime.
The objectives of this policy are to increase E&P activities in Pakistan with a view to achieve maximum self sufficiency in energy by increasing oil and gas production and, therefore, to reduce trade. Other objectives are to promote direct foreign investment in Pakistan by increasing the competitiveness of investment in the upstream sector without reducing tax revenues. To promote Pakistani oil and gas companies in the country’s upstream investment opportunities and train Pakistani professionals in E& P sector according to international standards and create such conditions for them that they stay in Pakistan and promote E&P activity in the onshore frontier areas by providing globally competitive incentives.