The Senate resumed its session in Islamabad on Thursday afternoon with Chairman Raza Rabbani in the chair.
The Senate was informed on Thursday that a Model Petroleum concession agreement has been formulated with the consent of all provinces for granting new oil and gas exploration licenses.
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told the House during the question hours that during the tenure of present government forty-six new explorations licenses have already been granted to different companies.
He said out of 337 wells spud over the last three years, 93 oil and gas discoveries have been made. He said that monitoring of exploration activities has been enhanced.
The Minister said that the government is also making all out efforts to pave the way for exploration of unconventional resources like tight gas, shall gas and low BTU gas.
Responding to a question, the Minister said there is proper mechanism to check the quality fuel and if there are complaints, the OGRA takes the necessary action.