Pakistan is situated in Southeast Asia, surrounded by India, China, Afghanistan, and Iran. The geographic location of Pakistan is very important for China, as well as the Central Asian states and Russia because of the two sea ports of Pakistan on Arabian Sea. China and Russia are planning to connect with the outside world using these Pakistani ports. China has recently planned to develop a road and railway network, known as Pak China Economic Corridor, to reach sea ports.
The economy of Pakistan mostly depends on agricultural products, and the country remains in debt, having more imports and fewer exports. The population is around 185 Million, the GDP $247 Billion, the GDP Growth rate 4 %, Inflation 7 %, and per Capita Income $1500, compared with USA's $53,000. Industry could not be developed for multiple reasons; Pakistan is an energy-deficient country, and mostly imports oil to meet its energy needs. There is big shortfall of electric power in the country due to limited funds available to build potential hydropower dams. China has committed to invest in the power sector of Pakistan in coming years. The available potential in the oil and gas exploration and production industries needs huge investment, which could not be encouraged due to poor security. The security situation in Pakistan has improved in recent years, which is likely to attract investment.
Oil and Gas Exploration started in 1885, and the first well started producing oil in 1915 in this part of the world. Pakistanis are skilled in oil & gas technology, and may be found working in oil industry around the globe due to their long experience in drilling and production.
Oil and Gas Exploration and Production (E & P) Companies in Pakistan are not reactive to regulatory compliance; rather, they are thinking and acting beyond. Applicable regulations and guidelines in Pakistan pertaining to Health, Safety and Environment (HSE) are quite stringent and being followed. Management commitment and defined responsibilities in HSE among E & P companies of Pakistan is evident that ensures compliance. International standards certifications further improve compliance level implementation of management systems.
