Pakistan leaves Middle East behind in petroleum exploration

petroleum-explorationISLAMABAD – Given the potential has for foreign investors, Pakistan is likely to adopt an aggressive marketing strategy to bring direct foreign investment in the country.

The urge was made at a meeting between Finance Minister Ishaq Dar and Petroleum and Natural Resources Advisor Zahid Muzaffar.

“The country is rich in treasures of oil and gas and the government has already announced special incentives for foreign direct investment in oil and gas exploration,” Dar said.

During the briefing, the minister was informed that national oil production jumped from 68000 barrels per day in July 2013 to 1,00,000 barrels per day.

The exciting news for Pakistanis and foreign investors is that success ratio of oil exploration is 1:3 to 1:5 in Middle East. The country has also seen an increase of 539 mmcfd natural gas in a period of one year.

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