Some of the quarters are adamant proving that there are low prospects of finding oil and gas in Pakistan, which is nothing but a gross distortion of the fact. The country has huge reserves, but either the companies have not been allowed to undertake exploration in ‘right’ areas or liquidity crunch is the prime reason for drilling fewer wells. It may not be wrong to say that since independence ‘Oil and Gas Exploration Policy’ of the (GoP) has remained subservient to super powers. Even after more than six and half decades subdued drilling activities are mainly due to inadequate allocation of funds and ‘political’ unrest in major oil producing areas, Baluchistan and Khyber-Pakthunkhwa provinces.
Major oil and gas exploration and production companies operating in Pakistan are Oil& Gas Development Company, Pakistan Petroleum, Pakistan Oilfield, Mari Petroleum and OMV Pakistan. All these companies have an enviable success record as these have hit oil or gas from every exploratory well drilled, the quantities may not be very high.
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