KARACHI – Pakistan is on the verge of discovering the largest ever gas andoil reserves of its history, enough for the needs of next 50 years, it hasbeen revealed.
A vessel of US oil-giant ExxonMobil will start drilling tomorrow (Friday)to search for reserves of oil and gas in Pakistan’s territorial waters.
The US oil-giant has anchored its mother vessel 230 kilometres intoPakistan’s aquatic territory to find the reserves. Three more ships willalso be anchored to facilitate the drilling.
According to a survey, large reserves of oil and gas are expected to befound in the country. ExxonMobil is starting its operation in the countrywith an investment of $70 million.
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ExxonMobil re-opened its office in Pakistan in November last year 27 yearsafter leaving the country. Its reentry into Pakistan was termed a ‘greatachievement’ by the PTI government.
Pakistan imports oil worth $14 billion every year.
