ISLAMABAD: To make the energy sector more self-sufficient, the Petroleum Division has planned to open bidding for 20 new oil and gas exploration blocks in Federally Administered Tribal Areas (FATA) and Balochistan by the year-end. This will later be presented before the Council of Common Interests for approval.
Due to the non-discovery of any major hydrocarbon reserves since long, the energy sector has suffered. The country’s total sedimentary area was around 827,268 sq. km out of which around 39% was under exploration, informed an official.
With the changing dynamics of research, the Oil and Gas Development Company Limited on the basis of satellite imagery completed in-house geological mapping of the Kohlu Block, covering an area of 2,459.1 sq km in districts of Kohlu, Barkhan and Dera Bugti. The country has sufficient potential in different sedimentary pockets, but it needed a robust strategy.
While efforts are underway to perform geological fieldwork, 2D seismic data acquisition will be completed in eight to ten months, the official further added.
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