Pakistan´s Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi reported on Septmeber 8, 2016, that 84 oil and gas discoveries were made in the country during the last 3 years.
«Production from 45 out of the 82 discoveries has already begun, whereas necessary work on 37 discoveries is being carried out by the Exploration and Production companies in order to start production, » he said.
According to the minister, drilling had increased by 46% along with 36% increase in the 2D and 3D explorations. «The ban on commercial gas connections will be lifted soon after the arrival of more gas in the system,» Abbasi said.
He noted, that despite the decrease in the prices of petroleum products at the international level, Pakistan was expected to continue receiving investment in the oil and gas sector which would help explore indigenous resources in the country.
«The local production of crude oil has surged to 100,000 barrels per day, which meets 15% of the country’s requirement. Exploration activities have also been expedited; especially in Khyber-Pakhtunkhwa (K-P) province, which has led to some important discoveries,» he said.
The Pakistan´s petroleum minister said the government was encouraging investors to establish new refineries in the country and two would be established soon.
«Establishment of refineries in Karachi and Balochistan would also help reduce the import bill of refined products.»
