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Oil, gas exploration activities up by 79%


7/5/2017

ISLAMABAD:
Pakistan witnessed an increase of around 79% in oil and gas exploration activities in different potential areas during the last four years of the current government as compared to the corresponding period of the previous government. In its efforts to achieve self-sufficiency in the energy sector, the present government took a number of initiatives, which resulted in drilling of 179 exploratory wells and 194 appraisal/development wells in potential areas by different E&P companies. “Subsequently, the Exploration and Production (E&P) companies made 98 new oil and gas discoveries with 40% success rate,” official sources told APP. During the same period of the previous government, 100 exploratory and 172 appraisal/development wells were drilled, which resulted in just 39 oil and gas discoveries. The sources said over Rs836 billion investments had poured in E&P sector of the country during the tenure of the current government.

Source: The Express Tribune