Type to search

Economy News

Massive Oil And Gas Reserves Discovered In Kohat District Of KP

  • 15
    Shares

KOHAT: Massive oil and gas reserves have been discovered in Khyber Pakhtunkhwa’s Kohat district which are expected to benefit the economy of Pakistan in the coming years, reported ARY News on Tuesday.

Per details, around 240 barrels of crude oil can be excavated from the site along with producing 127 cubic feet of natural gas.

It merits mention here that the Oil and Gas Development Company Limited (OGDCL) owns 50 per cent of the shares of the overall discovery while Mari Petroleum Company Limited (MPCL) owns 33.33 per cent of the shares.

Meanwhile, the Pakistan Stock Exchange has also been notified about the discovery. The oil and gas reserves are expected to help mend Pakistan’s economy and would also provide value in the foreign exchange market.

On April 19, Mari Petroleum Company had discovered an oil reserve near Gujar Khan in Rawalpindi. Talking about the discovery, a company spokesperson had said that it was the second consecutive discovery on Ghauri Block of Gujar Khan.

He had also said that the reserve would provide 372 barrels of crude oil on a daily basis.

Tags:

Leave a Comment

Your email address will not be published. Required fields are marked *

Comment moderation is enabled. Your comment may take some time to appear.