Oil, gas reserves not found in Karachi’s coast: PM’s aide on petroleum

ISLAMABAD: Oil and fuel reserves haven’t been present in offshore drilling off Karachi coast, Particular Assistant to PM on Petroleum Nadeem Babar mentioned on Saturday.

Pakistan was hopeful of discovering giant oil and fuel reserves in its territorial waters within the Arabian Sea. US oil big Exxon Mobil, Italy’s ENI and a pair different firms had been concerned in drilling an ultra-deep oil properly.

Talking solely to native information channel, Babar mentioned the method of drilling as much as greater than 5500 meters was accomplished on Kekra-1 (Indus G-Block) off Karachi coast.

He mentioned Oil and Gasoline Improvement Firm Restricted (OGDCL) and Pakistan Petroleum Restricted (PPL) additionally assisted Exxon Mobil and ENI in drilling the oil properly.

The PM’s aide mentioned the workplace of DG Petroleum Concessions has been apprised of the outcomes of drilling.

He additional knowledgeable that the price of drilling mission, which has now been deserted, remained over $100 million.

Earlier this 12 months, Prime Minister Imran Khan had mentioned Pakistan wouldn’t must import oil after reserves have been discovered close to Karachi coast.

“We’re hopeful of discovering giant reserves of fuel and oil within the sea close to Karachi. The nation ought to pray for this and I’ll quickly share excellent news relating to this,” Khan had advised reporters in Islamabad.9

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