KARAK, 30 MAR (DNA) – Mari Petroleum Company Limited (MPCL) has made a significant oil and natural gas discovery at an exploratory well in Karak district of Khyber Pakhtunkhwa on Wednesday.

The well has been drilled upto a depth of 5,900 meters. During the initial short duration tests carried out, the well flowed oil at the average rate of 1,425 barrels and 1.1MMSCFD of gas per day. According to authorities, the discovery was good news for the nation and the energy sector of Pakistan.

The discovery of new oil and gas reservoirs were “vital” to cope with the prevailing energy shortage in the country.  Earlier on January 20 this year, a new reservoir of oil and gas was discovered by Mol in Hangu district of Khyber-Pakhtunkhwa.

According to the experts new discoveries of oil and gas reserves will lead to lesser imports of petroleum products and will save Pakistan s precious foreign reserves. Pakistan has had an endemic energy crisis for years, characterised by frequent blackouts, which has crippled the economy. The crisis is blamed on chronic mismanagement and corruption. DNA