4 new rigs be­ing ac­quired to step up oil & gas ex­plo­ration

Pakistan Observer - - ECONOMY WATCH -

IS­LAM­ABAD—Min­istry of Pe­tro­leum and Nat­u­ral Re­sources has ap­proved a pro­posal to ac­quire four new drilling rigs to step up oil and gas ex­plo­ration ac­tiv­i­ties in the coun­try and achieve self-re­liance in the en­ergy sec­tor.

“Un­der the pro­posal, Rs 415.807 mil­lion have been ear­marked to ac­quire four drilling rigs and their ac­ces­sories for the Ge­o­log­i­cal Sur­vey of Pak­istan,” of­fi­cial sources in the min­istry told APP. An­swer­ing a ques­tion, they in­formed that the sta­te­owned Oil and Gas De­vel­op­ment Com­pany Lim­ited (OGDCL) had nine own rigs with the ca­pac­ity to drill up to 5,500 me­ters deep.—APP

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