Home / Economy / ExxonMobil will begin drilling for oil, fuel reserves in Pakistani waters from Friday

ExxonMobil will begin drilling for oil, fuel reserves in Pakistani waters from Friday

Photograph: AFP

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

The US oil-giant has anchored its mom vessel 230 kilometres into Pakistan’s aquatic territory to search out the reserves. Three extra ships may also be anchored to facilitate the drilling.

In line with a survey, massive reserves of oil and fuel are anticipated to be discovered within the nation. ExxonMobil is beginning its operation within the nation with an funding of $70 million.

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

ExxonMobil re-opened its workplace in Pakistan in November final 12 months 27 years after leaving the nation. Its reentry into Pakistan was termed a ‘nice achievement’ by the PTI authorities.

Pakistan imports oil price $14 billion yearly.

 

 


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