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ExxonMobil will start drilling for oil, gas reserves in Pakistani waters from Friday

Photo: AFP

A vessel of US oil-giant ExxonMobil will start drilling tomorrow (Friday) to search for reserves of oil and gas in Pakistan’s territorial waters.

The US oil-giant has anchored its mother vessel 230 kilometres into Pakistan’s aquatic territory to find the reserves. Three more ships will also be anchored to facilitate the drilling.

According to a survey, large reserves of oil and gas are expected to be found in the country. ExxonMobil is starting its operation in the country with an investment of $70 million.

Related story: Suzuki Motors likely to invest $450 million in Pakistan

ExxonMobil re-opened its office in Pakistan in November last year 27 years after leaving the country. Its reentry into Pakistan was termed a ‘great achievement’ by the PTI government.

Pakistan imports oil worth $14 billion every year.

 

 

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