In order to promote socially responsible and environment-friendly practices in the field of oil & gas exploration and production in line with the sustainable development goals, National Disaster Risk Management Fund (NDRMF) and Oil & Gas Development Company Limited (OGDCL) entered into an agreement to work on joint projects.
An MoU signing ceremony in this regard was held in Islamabad, in which Bilal Anwer CEO NDRMF and Ahmed Hayat Lak Managing Director/CEO OGDCL signed the agreement.
Under this partnership, NDRMF intends to establish linkages with OGDCL for larger cooperation and linkages for research and capacity development activities for socially responsible and environmentally friendly adaptations in the field. Collaborating for knowledge exchange and capacity building in the areas of climate change, disaster risk reduction, through holding seminars, workshops and events in areas of mutual interest will play a vital role in achieving the objectives.
Bilal Anwer, CEO NDRMF said that NDRMF is legally mandated to reduce the socio-economic and fiscal vulnerability of the Country and its population to natural hazards by prioritizing and financing investments in disaster risk reduction that have high economic benefits, taking into account climate change, as well as disaster risks and their impacts.
He said that through this partnership, NDRMF will provide opportunities and support to OGDCL for socially responsible development of its business; enhance the outreach programs of OGDCL for an environment friendly business development mechanism keeping in line with the international best practices by optimizing the global carbon emission reduction goals. Ahmed Hayat Lak , Managing Director/ CEO OGDCL expressed great confidence in this partnership and said it will help us explore carbon dioxide gas capture & storage solutions and mechanisms for reductions in greenhouse gas emissions.