Pakistan finds new oil, gas reserves in Khyber-Pakhtunkhwa

Pakistan has found new deposits of oil and gas in exploratory well Mamikhel South-01, located in Tal block in Khyber-Pakhtunkhwa (K-P).

An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. Pump jacks are used to pump crude oil out of the ground after an oil well has been drilled. PHOTO: REUTERS/FILE
An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. Pump jacks are used to pump crude oil out of the ground after an oil well has been drilled. PHOTO: REUTERS/FILE

The discovery will slightly slash the country’s heavy reliance on energy imports and cut the import bill.

“Well test has shown 3,240 barrels of condensate per day, 16.12 mmscf (million standard cubic feet) of gas per day and 48 barrels of water per day,” Pakistan Oilfields Limited (POL) said in a notification to the Pakistan Stock Exchange (PSX)