KP holds promise of new oil discoveries

September 17, 2018:  Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) Monday expressed confidence to exhaust the untapped reserves of oil and gas in potential areas of the province under Prime Minister Imran Khan's vision to overcome the prevailing energy crisis in the country.

"KP holds promise for new exciting discoveries, particularly in Kohat Basin which has become main area of focus after successful discoveries by OGDCL and MOL Pakistan.

Most of the areas of KP is still lying explored and therefore, there is potential of massive hydrocarbon prospects in the province," official sources told APP.

Currently, they said, oil and gas exploration activities were being carried out in 10 blocks of the province, adding that the KPOGCL was extending them maximum facilities including logistics, security, seismic surveys and geographical mapping under the one-window service.

Answering a question, the sources said the KPOGCL were producing around 65,000 barrels (bbl) oil, 450 mmcf gas and 500 ton Liquefied Petroleum Gas (LPG) on daily basis.

They said the company recently got a license to carry out exploration activities at Lakki block which would also help initiating development activities in oil and gas producing districts.

The sources said the KPOGCL and a Russian consortium of investors had signed a Memorandum of Understanding (MoU) to establish a refinery, having a capacity to purify 200,000 bbl oil per day in the province.

(APP)