KPK’s oil, gas re­serves can change fate of coun­try: PBIF

The Pak Banker - - NATIONAL -

The re­serves of oil and gas in the Khy­ber Pakhtunkhwa prov­ince could change the fate of coun­try, prov­ince have nine tril­lion cu­bic feet of re­cov­er­able gas re­serves and 500 mil­lion bar­rels of oil which are ten times as big as that of Potho­har re­serves.

Ac­cord­ing to the press re­lease here on Wed­nes­day, The Pres­i­dent Pak­istan Busi­ness­men and In­tel­lec­tu­als Fo­rum (PBIF) Mian Zahid Hus­sain said that in­vest­ment in KP oil and gas sec­tor can change the fate of coun­try while re­duc­ing un­em­ploy­ment and mil­i­tancy.

He said that presently KP prov­ince is pro­duc­ing half of the oil of the to­tal na­tional out­put while 10 per­cent of the gas which is also be­ing pro­vided to the other provinces.

KPOGDC has im­proved work­ing in 17 oil and gas blocks while the re­main­ing 4 need at­ten­tion of the au­thor­i­ties he said adding that OGDC and MOL are ac­tively par­tic­i­pat­ing in ex­plor­ing ac­tiv­i­ties while other multi­na­tional com­pa­nies are not play­ing ac­tive role due to se­cu­rity fears.

He said that dozens of Amer­i­can, Chi­nese, Kuwaiti and other com­pa­nies are in­ter­ested in in­vest­ment in KP oil and gas sec­tor pro­vided their reser­va­tions should be tack­led.

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