ISLAMABAD - A delegation of Samung Engineering Company Limited led by Sung Chiyong, Vice President and Yaqoob Tabani, Chairman Tabani Energy Private Limited called on Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar here on Wednesday. The delegation discussed prospects in the oil and gas sector, particularly, in refining and the downstream oil sector. The Minister while giving an overview of the downstream petroleum sector said that there were excellent opportunities available under the present petroleum policy for investors. He said that Pakistan possessed a huge market for refining of petroleum products and there was a potential for their export. In addition to domestic crude production, newer discoveries had ratcheted up demand for more refining. He said that a large number of petroleum products were being imported and therefore, accelerating indigenous refining would decelerate the dependence on imports for the same purpose. The Minister said that the atmosphere for investment was conducive and there was a liberal and attractive incentive package on offer. Elaborating the incentives, he said the refineries could be set up according to the investor choice and economics. Crude Oil could be imported from their source of choice. Refineries could set up their own marketing network and there was an excellent scope for marketing of petroleum products, especially, diesel, furnace oil, motor gasoline, petrol, jet fuel etc. Besides, those products could be exported to China and the Central Asian republics through sea and land routes. He said there existed special incentive offer for setting up a refinery in the coastal belt of Gawadar and coastal areas of Balochistan including a 20-year tax holiday. Chung thanked the Minister for meeting and said that he planned to visit various oil refineries in the country during his visit to Pakistan. Director General Oil, Sabir Hussain, also attended the meeting.