look news india
Oil, gas reserves found in Pakistan: Pakistan, which is facing economic crisis, has hit the jackpot. The world's fourth largest oil and gas reserves have been discovered in Pakistan's offshore area. According to media reports, this reserve is so huge that it can change the fortunes of neighboring countries. A news channel quoted a senior official as saying that a three-year survey was conducted with the help of a friendly country to confirm the presence of oil and gas reserves.
The Geological Survey helped Pakistan identify the location of the deposits. The concerned departments have provided information to the government about oil resources within Pakistan's maritime boundary.
The official said bids and exploration proposals to exploit these resources are being studied, which means exploration work could begin in the near future. However, drilling wells and actually extracting oil could take years, he said.
The official said that taking initiative in this regard and completing the work soon could help change the country's economic fortunes. According to some estimates, this discovery is the fourth largest oil and gas reserve in the world.
Pakistan has been facing economic crisis for the last several years. The country does not have enough foreign currency. Inflation has made life difficult for the people. In such a situation, finding huge reserves of oil and gas is no less than a boon for Pakistan.