KARACHI – Significant reserves of petroleum and natural gas have been found in territorial waters of Pakistan, a development that can prove game changer for the cash-strapped country.
Reports said the reserves were found during a three-year survey, which was conducted in collaboration with a friendly country to verify the presence of the reserves.
The geographic survey helped Pakistan to find the location of the reserves, reports said, adding that the relevant departments have informed the government about the good news.
An official told leading English newspaper that study on proposals for bidding and exploration was underway, a statement which hints at the starting of the exploration work in the near future.
The official said the process to dig wells and get oil out of them could take several years, adding that it would have long lasting impact on national economy.
He believed that a quick action to materialize the project could help Pakistan improve its economy.
The geographic survey helped Pakistan to find the location of the reserves, reports said, adding that the relevant departments have informed the government about the good news.
An official told leading English newspaper that study on proposals for bidding and exploration was underway, a statement which hints at the starting of the exploration work in the near future.
The official said the process to dig wells and get oil out of them could take several years, adding that it would have long lasting impact on national economy.
He believed that a quick action to materialize the project could help Pakistan improve its economy.