World's largest oil and gas company to start 1900 km long offshore drilling project in Pakistan

World's largest oil and gas company to start 1900 km long offshore drilling project in Pakistan
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ISLAMABAD - Pakistan Minister for petroleum Sarwar Khan has announced that ExxonMobil an American multinational oil and gas corporation would start a 1,900-meter deep offshore drilling, some 230 kilometers away from Karachi, in January next year (2019). He said that a drilling rig was on its way from Mozambique in this regard.

He said that the government was working on three gas pipelines which included Turkmenistan-Afghanistan-Pakistan-India (TAPI), IP and Russian offshore gas pipeline, adding that work on TAPI pipeline was on an advanced stage.

The minister added that the US has imposed new sanctions on Iran, however, 'we will take decision keeping in view our interest'.

He said that recently an Iranian technical team has visited Pakistan to discuss IP project. He said that Pakistan is willing to complete the gas pipeline as it needs energy.

Sarwar Khan expressing his views said that LNG contract signed by the previous Pakistani government and Qatar needs to be re-negotiated to ensure transparency.

Economy