Pakistan finds signs of victory in the ongoing oil and gas drilling in the deep sea. According to a survey, large reserves of oil and gas are expected to be found in the country.
The Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), ENI and ExxonMobil have planned to begin drilling of the first exploratory well Kekra-1 in offshore Indus G-Block, OGDCL Managing Director Zahid Mir said.
He said an investment of $70 million had been earmarked for the project, which would be contributed equally by the joint venture partners.
Italy’s ENI and US oil major Exxon Mobil are jointly drilling for gas offshore in Pakistan’s Arabian Sea. Many other Western companies have left more than a decade ago because of Islamist militant violence.
