ISLAMABAD: The present government has taken various measures to create an investment-friendly environment in oil and gas sector.
“Attractive terms and conditions for investors are, therefore, being offered by the government to accelerate the exploration and development of oil and gas,” said an official of Ministry of Petroleum and Natural Resources.
He said that the country has a large sedimentary basin covering over 827,268 sq. km, spreading over both onshore and offshore. Majority of the area has remained unexplored or under explored.
Due to the efforts of the present government 173 wells have been spud, 47 discoveries have been made and 17 leases have been granted during the tenure of this government.
He said that the grant of 46 new blocks during the tenure of the current government has increased the area under exploration from 269,152 Sq Kms to 363,639 Sq Kms (35 percent increase), which is now about 44 percent of the total sedimentary area.
Moreover, around 32,000 bbl of oil production per day have been added and over 510 mmcfd additional gas has also been injected in the gas network system.
Pakistan domestic oil production touched its highest level 100,698 barrels per day
