ISLAMABAD: As many as 56 discoveries of oil and gas reservoirs have been made in just two years and gas reserves of 1,010 bcf (billion cubic feet) and 16 million US barrels of oil have been found since June 5, 2013.
The official sources of Ministry of Petroleum and Natural Resources revealed this, while talking to the state-owned news agency.
They said that the country was moving on a fast track towards achieving autarky in the energy sector as all-out efforts were being made to achieve the target by utilizing conventional as well as non- conventional reserves like tight gas, shale gas, marginal fields and BTU (British thermal unit) gas.
Under these steps, additional volume of around 31,000bopd of oil and around 500mmcfd of gas had been added in the system, they added. Elaborating the Petroleum Policy that provided incentives to oil and gas exploration companies, the sources said 46 new exploration licences covering an area of 94,608 kilometers had been granted to different exploration and production (E&P) companies.
During the period, as many as 202 wells had been spudded with enhanced monitoring of E&P activities, they said adding that around 11,284 Lkm of 2D and 8,828 Sq. Km of 3D had been acquired for seismic survey.
