ISLAMABAD (APP) - The immense untapped hydrocarbon potential, estimated at 27 billion barrels of Oil and 280 trillion cubic feet of natural gas coupled with new petroleum policy made Pakistan certainly one of the best attractive destinations in the world for oil and gas exploration companies with high rate of return on their investment. This was stated by Advisor to the PM on Petroleum and Natural Resources, Asim Hussain while addressing the participating int'l and national companies, experts and investors at the second Pakistan Exploration and Promotion Conference at Hilton Post Oak Hotel, Houston, USA. The Ministry of Petroleum and Natural Resources in collaboration with local and international oil and gas companies arranged road shows with the name Pakistan Exploration Promotion Conference in London, UK, Houston, USA and Calgary, Canada to showcase Pakistans hydrocarbon potential and to kick-off the bidding process of 53 new exploration blocks under Petroleum Exploration and Production Policy 2009, aiming to attract investment of international oil and gas companies. In his key note address, Dr. Asim Hussain added that only a few countries in the world can match Pakistan with a ratio of 1:3 of drilling success rate. Oil and gas together constituted around 80 per cent of energy mix of Pakistan. In view of the fact that only 3.4pc of oil and 19 per cent of gas explored so far out of the total resource hydrocarbon potential, the remaining prospects available in the country thus requires serious efforts for their optimal exploitation. Counsel General of Pakistan in Houston, USA, Aqil Nadeem, welcomed the participants and expressed hope that the conference in Houston would result in further expansion of the US oil and gas cos presence in Pakistan. Special Secretary, Ministry of Petroleum and Natural Resources, G.A. Sabri, highlighted the salient features and fiscal incentives provided in the new Petroleum Policy 2009 and invited the participating oil and gas companies to take benefit of the liberal and investor friendly policies of the Government of Pakistan with their participation in the recently announced bidding round for exploration blocks.