Wood Mackenzie has won the tender to conduct a feasibility study for strategic petroleum reserves in Pakistan.

The company was selected through a competitive tendering process, with four bids received.

Chairing a meeting in Islamabad, Minister for Petroleum Ali Pervaiz Malik said the strategic petroleum reserves study will propose practical and viable solutions tailored to Pakistan’s requirements. It will assess existing infrastructure, logistics, financing and legal and regulatory aspects related to strategic storage.

The Federal Minister directed all relevant stakeholders to extend full cooperation to Wood Mackenzie.

A steering committee will be constituted to regularly review the progress of the strategic petroleum reserves feasibility study.

Ali Pervaiz Malik said the government considers energy security to be closely linked to national security and is continuing reforms and initiatives in the energy sector.

He said the recent crisis in the Strait of Hormuz has further highlighted the need to strengthen domestic buffers and energy security against potential supply disruptions.