ISLAMABAD: The PML-N led government has made concrete measures to enhance oil and gas production by spuding 154 wells and and making 45 new oil and gas discoveries.
An official of ministry of Petroleum and Natural Resources told APP that around 500 MMCFD of gas and around 34,000 barrels of oil per day of oil has been added since the current government took charge.
"The oil production in the country has achieved 100,698 bbl per day of oil on 7.12.2014, which is the highest oil production level achieved so far," he added.
He said that the present government is giving high priority to Exploration and Production (E&P) sector to exploit indienous hydrocarbon potential to bridge the gap between demand and supply.
He said that the ministry after taking all provinces on board in finalizing Model Petroleum Concession Agreement (MPCA) and Model Exploration Agreements, awarded 50 blocks on provisional basis to nine E&P companies on 21.01.2014.
Out of which 21 blocks are falling in Balochistan, 15 in Punjab, 6 in Sindh and 7 blocks in KPK province and one in Federally Administered Tribal Areas (FATA). The ministry has already signed 44 ELs and PCAs in short span of time.
Due to grant of 45 new blocks during the tenure of the current government, the area under exploration has increased from 269,152 to 362117 sq kms, which is about 44 % of total sedimentary area.
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