E&P made eight oil, gas discoveries in nine months

ISLAMABAD: Oil and gas exploration and production (E&P) companies operating in different potential areas of the country made eight discoveries during the last nine months.

"The finds, made in Matiari, Ghotki, Hyderabad, Sanghar, Sujawal, Khairpur, Matiari and Sukkur districts, have the initial flow of 90.394 million cubic feet gas per day and 630 barrels oil per day," official sources told APP.

Answering a question, they informed that during last four years, the companies made 101 discoveries, out of which 87 finds were made in Sindh, seven each in Punjab and Khyer Pakhtunkhwa.

"We have consumed 5.2 trillion cubic feet (TCF) gas and added 5.4 tcf reserves in four year. In this way we have replaced 100 percent gas reserves consumed," they said.

The reserves associated with new discoveries were based on 68 discoveries, while potential of remaining 33 finds were under evaluation, the sources added.

Since the Pakistan Muslim League-Nawaz (PML-N) government came into power in 2013, they said over $10 billion foreign investment had poured in the country's petroleum sector, despite low oil price scenario in international market.