Pakistan has selected Wood Mackenzie to assess the feasibility and proposed framework for establishing strategic petroleum reserves.
ISLAMABAD: Pakistan has launched a feasibility study for establishing strategic petroleum reserves as part of efforts to strengthen the country’s energy security.
International energy consultancy Wood Mackenzie has been selected to undertake the study following a competitive bidding process in which four firms submitted proposals.
Federal Minister for Petroleum Ali Pervaiz Malik chaired a meeting to formally launch the initiative, emphasizing the close link between energy security and national security.
During the meeting, officials reviewed the scope of the feasibility study, its expected completion timeline and the proposed framework for developing strategic petroleum reserves in Pakistan.
Wood Mackenzie will assess key aspects of the proposed reserves and provide recommendations on their structure and development. The consultancy was selected after its proposal was evaluated through the competitive procurement process.
The proposed reserves are intended to strengthen Pakistan’s preparedness against potential disruptions in global oil supplies. Establishing strategic petroleum stocks could also improve the country’s ability to manage external supply shocks and enhance overall energy resilience.
The feasibility study is expected to provide a roadmap for determining how strategic petroleum reserves could be structured and developed in Pakistan. Its findings and recommendations will help inform decisions on the proposed initiative.
About The Author
