Petroleum Minister Shahid Khaqan Abbasi on Wednesday informed the National Assembly that the government is working on several projects to overcome the oil and gas shortage in the country and has signed pacts with domestic and foreign companies.
During the question hour, the minister said the government has embarked on a plan which include enhancement of indigenous gas production, import of gas from Iran, import of gas from Turkmenistan, import of LNG from Qatar and Promotion of LPG air mix.
To a question, the minister said the government has signed agreements with six domestic and six foreign companies for exploration of oil and gas in the country during the last five years.
He said 97 wells were drilled during the last one year. He said OGDCL drilled 24 wells, PPL six and other companies drilled 57 wells during 2012-13.
To a question, Abbasi said Pakistan has entered Gas Sales Purchase Agreement with Iran and Turkmenistan and the work for the completion of the projects is underway.
He said Pakistan is bound to purchase gas from Iran by January 1, 2015 otherwise, a penalty of three million dollars per-day will have to pay. He said despite number of hurdles the government is committed to complete the Pakistan-Iran gas pipeline project within the stimulated period.
The minister said under the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project Pakistan is just a buyer and no investment is made by it.
