Financial transparency in extractive sector

The writer is a practising lawyer with expertise in international lawThe writer is a practising lawyer with expertise in international law

The writer is a practising lawyer with expertise in international law

Pakistan’s oil and gas industry holds a distinct position. By numbers alone, recoverable oil reserves are estimated at 282.22 million barrels, and as of March 2019, the current oil production was 90,356 bpd, while the production of raw gas in April 2019 was reported 3.6 billion cubic feet per day. A total of 2,537 wells have been drilled in Pakistan’s history, out of which 1,094 are exploratory wells and 1,443 development/appraisal wells with 394 oil and gas discoveries.

In January, Pakistan, with the help of ExxonMobil and Eni Pakistan Limited, began offshore drilling at Kekra-1 well in the Indus-G block, located 280 km from the Karachi coast. The surveyors

... read more at: https://tribune.com.pk/story/1972175/6-financial-transparency-extractive-sector/

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