Russian consortium of investors, which include Inter -Rao Engineering and Himmash Apparat partnered with Orpheus Energy and Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) signed an agreement for establishment of 20,000 barrels per day oil refinery in Khyber Pakhtunkhwa.
The agreement signing ceremony was held at Khyber Pakhtunkhwa House Peshawar. Chief Planning Officer (Energy & Power Department) Zain Ul Shah from the KPOGCL and Yaroslav Gavrylenko from Himmash signed the agreement.
Khyber Pakhtunkhwa is considered to be a leading province in production of crude oil in comparison to other provinces. The province is said to be producing 55,000 barrels per day of oil which equals to 54pc of the total production of the country.
On the occasion, Chief Minister Khyber Pakhtunkhwa Parvez Khattak said that this project will turn out to be a game changer for the province. This will help boost the economy of the country, he said.
Khattak added, “It is the result of the hard work and dedication that we have gone from red tape to red carpet. The foreign investors are willing to invest in our province. Our government goes one step forward then what we promise to cooperate and facilitate all our investors in best way possible.”
The visiting delegates from Russian company included Yaroslav Gaverylenko, while from Orphuse Wayne Mitchells and Osman Chaudhry were included.