Govt Sets Target To Produce 33.50 Mbbl Oil, 1.473 Tcf Gas In 2018-19
Umer Jamshaid Published June 17, 2018 | 11:01 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Jun, 2018 ) :The government has set an ambitious target to produce 33.50 million barrel (mbbl) crude oil and 1.473 trillion cubic feet (tcf) natural gas through indigenous resources during the year 2018-19.
"The indigenous gas supply will be supplemented through Liquefied Natural Gas (LNG) imports to the tune of 9.0 million tons, while the supply-demand gap in both oil and gas sectors will be met through import of crude oil and petroleum products," official sources told APP.
Answering a question, they said oil and gas Exploration and Production (E&P) companies have planned to drill 90 wells in different areas across the country. Under the plan, as many as 50 exploratory and 40 development wells would be drilled in a bid to make the country self-sufficient in the energy sector, the added.
During the last five years, the sources said, the E&P companies drilled 445 new wells, out of which 221 were exploratory, adding that the increased exploration activities resulted in 116 new oil and gas discoveries.
Besides accelerating efforts to achieve self-sufficiency in production of petroleum products, the government has signed around 15 agreements and memorandums of understanding (MoUs) with different countries during the last five years to enhance cooperation in the field of energy.
The agreements were signed with Azerbaijan, Turkey, Qatar, Iran, China, Russia, Turkmenistan, United Kingdom and Kuwait.
Related Topics
Recent Stories
Teenage girl arrested after stabbing at Welsh school
Ministers visit Aziz Bhatti Shaheed Hospital following roof collapse incident
Karachi, Lahore, Multan win matches of National Women’s Cricket Tournament
No communication gap among players, asserts Babar Azam
IHC serves notices in petition against 'roti' price fixation
Bank employees deprived of Rs 1m at gunpoint
Media playing the role of fourth pillar of democracy: Atta Tarar
AIOU to host 37th annual conference of AAOU in Oct
Pakistan Day Reception in Pakistan Embassy Abu Dhabi
ADC directs to expedite anti-dengue activities
PFA discards Gutka harmful for human health
SSC, HSSC annual exams in Sindh to be conducted in May
More Stories From Pakistan
-
Ministers visit Aziz Bhatti Shaheed Hospital following roof collapse incident
5 minutes ago -
IHC serves notices in petition against 'roti' price fixation
9 minutes ago -
Bank employees deprived of Rs 1m at gunpoint
6 minutes ago -
Media playing the role of fourth pillar of democracy: Atta Tarar
9 minutes ago -
ADC directs to expedite anti-dengue activities
10 minutes ago -
PFA discards Gutka harmful for human health
4 minutes ago
-
IGP Islamabad, SSP Operations visit PS Sabzi Mandi
5 minutes ago -
Sindh Chief Minister Syed Murad Ali Shah accepts resignation of Advisor Allah Dino Bhayo
5 minutes ago -
Police arrest woman driver involves in hitting police officer's vehicle
5 minutes ago -
31 outlaws held, narcotics, weapons seized
4 minutes ago -
RWMC carries out cleanliness awareness drive in Girls college
4 minutes ago -
Rs.795.1m fine imposed on 7553 power pilferers in 228 days
4 minutes ago