Business News

Govt taking steps to increase indigenous oil, gas production

Latest Update: May 24, 2015 | 207 Views
Oil&gas

ISLAMBAD: The Government is taking serious steps to increase the indigenous oil and gas production in the country.

According to official sources new exploration licenses are being granted. Forty-six new exploration licenses have been granted to different companies. One hundred and eighty-six wells have been dug since June 2013. Fifty-four discoveries have been made during this period and fourteen discoveries are under evaluation.

As a result of steps taken by the Government, additional volume of around 34,000 Barrel of Oil per day and around 500 MMCFD of gas has been added in the system.