After the long gap of nine years, offshore drilling in Pakistan in ultra deep water began.
Offshore drilling in Pakistan worth $100 million from Exxon Mobil began near Karachi coast. Italian firm Eni Pakistan Limited and US firm Exxon Mobil are collaboratively drilling in ultra deep waters around 280 km far from the coastline of Karachi.
A few months back, Abdullah Hussain Haroon, Caretaker Minister for Maritime and Foreign Affairs elaborated while addressing at Federation of Pakistan Chambers of Commerce and Industry (FPCCI). However, he was addressing business leaders at FPCCI forum.
Abdullah Hussain said that if oil reserves in Pakistan will be discovered as expected then the country will be among the largest oil producing countries. He further added that Pakistan could move ahead of Kuwait in terms of oil reserves.
As indicated by current evaluations, 81.89 percent of the world’s demonstrated oil holds are situated in OPEC part nations, with the heft of OPEC oil reserves in the Middle East, adding up to 65.36 percent of the OPEC total oil reserves.