Two major oil discoveries on Wednesday gave a major boost to local production, which would now become twenty-five percent of the country’s total consumption.
The combine production of these two wells, one in Nashper dug by Oil and Gas Development Authority (OGDCL) and the other by Hungarian company MOL in Markori, is projected at 40,000 barrels a day by the end of the current year.
The total oil consumption in the country is 380,000 barrels a day, while the current local production is 67,000 barrels a day.
Petroleum Minister Dr Asim Hussain, who has been actively pushing for more oil discoveries, is expected to make a formal announcement in a couple of days.
In the gas sector, a source told Pakistan Today that the Pakistan-Iran gas pipeline project was finally set to take off today (Thursday) with the tenders being called.
After India pulled out from the project, Pakistan and Iran stuck to it and Iran has already laid down the pipeline on its side of the border. With both sides disregarding any outside pressure, Pakistan also moved forward practically by calling tenders.
It has been learnt that government had decided to generate the required funds from its own resources, as China was not interested in investing in the project.
Well done
Zardari has placed his colleagues on important positions.They are totally incompetent & criminals like zardari. If you make a club dancer- manger as MD of OGDL what will be the ouput.
Pakistan has huge oil & gas reserves but the ruling class has failed to deliver.
Asim is a so called orthopaedic surgeon but he has been elevated to the post of federal minister with a portfolio diabolically in contradiction to his profession. Just because he attended Zardari in his difficult days hence he must be rewarded. Asim is an MQM man and he has no sympathies with PPP at all but it does not bother Asif Zardari. After all Rehman Malik is also Altaf's buddy but he is interior minister of the country.
its really amazing revealing.
I am tired of hearing negative minded bloggers giing innane comments against zardari. The situation is self evident. Upto today previous governments have only been able to generate 67000 (which includes 2 more finds made during this governments tenure) barrels a day, but according to reports it will go up to over 100000 barrels by the end of the year. That is obviously a stunning performance, so why are such bloggers blind or self-miserably prejudiced. If they think the government is corrupt, then I would advise them to see the Transparency International Report. If they think the poor are being neglected by the govt. pl. see the UN report of the MDG. They better see the writing on the wall in front of them instead of looking down the toilet. Soothsayer.
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