Adviser to the Prime Minister on Petroleum and Natural Resources Dr Asim Hussain expressed confidence that the new Petroleum Policy, 2012 provided significant incentives for the exploration and production companies operating in Pakistan’s oil and gas sector, according to a press statement released on Tuesday. He further said that the companies should take advantage from the incentives offered by the policy.
To reduce the prevailing demand and supply gap, the energy and production companies were successful in discovering new hydrocarbon reserves.
United Energy discovered Gharo-1 oil and gas field in July, 2012 which is producing 520 barrels per day (bpd) of oil and 0.03 million cubic feet per day (mmcfd) of gas.
Oil and Gas Development Company’s major oil and gas discovery was Nashpa-2, expected to produce 3,370 bpd and 11 mmcfd of gas.
Published in The Express Tribune, September 19th, 2012.
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