160 Oil and Gas reserves have been discovered in Pakistan

160 Oil and Gas reserves have been discovered in Pakistan

ISLAMABAD - Minister for Power Division Omar Ayub Khan on Friday informed Senate that total 160 oil and gas reservoirs had been discovered in the country during the last 10 years.

Giving a breaking during the question hour, the minister said out of total, 131 discoveries were made in Sindh, 13 in Punjab, 13 in Khyber Pakhtunkhwa and three in Balochistan.

He said Sindh province was rich in oil resources and its share stood at over 64 per cent.

The minister said a sum of Rs. 12.773 billion royalty had been collected and paid during the last five years from the oil reserves discovered in the country.

The minister said currently the Renewable Energy (RE) share in energy mix was only four per cent, adding that under new RE draft policy, its share would be enhanced to 20 per cent by 2025 and 30 per cent by 2030.

Similarly, he said share of nuclear energy would also be raised to 10 per cent in the energy mix which would help end dependency on imported fuel.

To a question, the minister said seventeen exploration and production (E&P) companies were working in Sindh Province. Since, August, 2018, 12 exploration wells had been drilled in Sindh Province and two new Blocks namely Sorah and Taung had been provisionally granted to PPL and MPCL respectively.