Taxila, Pakistan: Minister for Petroleum Ghulam Sarwar Khan has hinted on Monday about the discovery of oil and gas reserves and mentioned that offshore drilling around 230 KMs into the sea has found signs of large reserves.
Speaking to the media, Mr. Khan said drilling project for oil and gas exploration by an American energy firm has drilled to the lowest layer and entered in its final stages, and is hinting about the discovery of large oil and gas reserves. Still, the final word in this matter is expected till next month.
In response to a question, Mr. Khan said that the ministry of petroleum is preparing an incentives package for the oil and gas exploration sector.
Upon the question for the establishment of an oil refinery by Saudi Arabia, the petroleum minister said that an oil refinery and a petro-complex will be set up to address Pakistan’s oil-related issues. He said that the formalities in this matter are to be finalized soon and work on the petro-complex will be initiated next year.