Prime Minister Shehbaz Sharif has congratulated the nation on the discovery of major oil and gas reserves in the Nashpa Block of Kohat district in Khyber Pakhtunkhwa and praised the performance of the institutions involved in the project.
While addressing a meeting on petroleum division affairs, the Prime Minister said that the discovery of new oil and gas reserves should be included among national priorities in order to save valuable foreign exchange spent on the import of petroleum products.
He directed that the entire oil and gas supply chain, from import to end consumption, should be digitized on a priority basis to ensure transparency and effective monitoring.
The Prime Minister stated that the digitization of the oil and gas supply chain would help curb the smuggling of these products and generate financial benefits for the national exchequer.
During the briefing, Oil and Gas Development Company Limited informed the meeting that major oil and gas reserves have been discovered in the Nashpa Block of the Kohat district. Initial testing indicates that the well is expected to produce 4,100 barrels of crude oil per day.
The company further stated that along with oil, the well is also expected to produce 10.5 million standard cubic feet of gas per day, marking a significant development for the country’s energy sector.
It was also shared that drilling for the discovery was carried out up to a depth of 5,170 meters, and the project includes Oil and Gas Development Company Limited, Pakistan Petroleum Limited, and Government Holdings Private Limited as partners.
