Islamabad: Pakistan witnessed an increase of around 79 percent in oil and gas exploration activities in different potential areas during the last four years.
In its stride to achieve self-sufficiency in the energy sector, the government took a number of initiatives, which resulted in drilling of 179 exploratory wells and 194 appraisal / development wells in potential areas by different E&P companies.
“Subsequently, the exploration and production (E&P) companies made 98 new oil and gas discoveries with 40 percent success rate,” sources said on Tuesday. During the same period of the previous government, 100 exploratory and 172 appraisal / development wells were drilled, which resulted in just 39 oil and gas discoveries.
The sources termed increased number of discoveries a ‘record’ set by the present government in a short span of four years, which so far added 944mmcfd gas in the transmission network across the country and 32,343bopd in the domestic production. The government granted 46 exploration licences and 33 leases, carried out 25,568 L.km 2D and 19,478 sq.km 3D seismic surveys, besides it made 1,073,283 metre drillings, which is 52 percent higher than the last government’s tenure.
