An embezzlement of over Rs 40 billion has been revealed in Ministry of Petroleum while top officials including director general Oil were allegedly involved in the mega corruption.

According to Audit report 2015, director general Oil had rewarded licenses for experimental production to two global giants: OMV and MOL which caused lose of Rs 40 billion to national treasure.

According to report, DG Oil had issued licenses to these international oil companies to explore oil and gas from Saqib and Mahmi Khel fields on experimental production under Petroleum Policy, 2001, while financial benefit was given to these companies under Petroleum Policy, 2012.

Oil production was started from both oil fields in 2009, while formal announcement of production was made four years later; both companies were allowed to explore oil on experimental production for five years.

Audit officials said that these companies had no right to produce oil under given licenses, but with the help of corrupt officials, companies had been producing oil for five years.

The audit officials had requested the top level management to take notice of this mega corruption and to take action against corrupt mafia in the ministry to bring back looted money.