ISLAMABAD – A vessel of Italian oil-giant ENI will start drilling tomorrow(Friday) to search for reserves of oil and gas in Pakistan’s territorialwaters.
The oil giant has anchored its mother vessel 230 kilometres into Pakistan’saquatic territory to find the reserves. Three more ships will also beanchored to facilitate the drilling.
According to a survey, large reserves of oil and gas are expected to befound in the country. ENI is starting its operation in the country with aninvestment of $70 million.
The project is a collaboration between ENI, OGDCL, PPL and ExxonMobil.ExxonMobil has a 25% stake in it.
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Pakistan imports oil worth $14 billion every year.
