ISLAMABAD: Pakistan witnessed an increase of around 79 percent in oil and gas exploration activities in different potential areas during the last four years of incumbent government as compared to corresponding period of the previous government.
In its stride 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 wells in potential areas by different E&P companies. “Subsequently, the E&P companies made 98 new oil and gas discoveries with 40 percent success rate,” official sources told APP.
While, during the same period of previous government, 100 exploratory and 172 appraisal/development wells were drilled, which resulted in just 39 oil and gas discoveries. Sources informed that the govt granted 46 exploration licences and 33 leases, carried out 25,568 L.km 2D and 19,478 Sq.km 3D seismic surveys, besides it made 1,073,283 meter drillings which is 52pc higher than the last govt’s tenure.
