Pakistan invest 1 billion for oil search

[S_O_C_O_M]

Pakistan should also search for oil in the Arabian Sea.

 

[jeypore]

Pakistan Oil & Gas to Spend $1 Billion on Exploration - BusinessWeek



The company’s profit in the 12 months ended June 30, will be “higher than last year,” Alam said, without giving details. Oil & Gas reported a net profit of 55.5 billion rupees ($647 million) in the year ended June 30, 2009, according to data compiled by Bloomberg.
--Editors: Naween A. Mangi, John Chacko

To contact the reporters on this story: Khaleeq Ahmed in Islamabad at kkhan8@bloomberg.net; Farhan Sharif in Karachi at fsharif2@bloomberg.net.

Now That is One Billion, that I know Where is coming from and I wish them the best of luck in there Investmet for future!!!

 

[ejaz007]

Where has pakistan suddenly found a billions dollars from?

OGDCL is a earning decent profits. They shall finance this from their own pocket.

Actually there is nothing new in this news. Every oil and gas company has yearly plans and committments which they try to fullfil. On average OGDCL drills around 25-30 wells a year. This year they plan to increase that.