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Pakistan discovered gas reserves worth $1.5 billion.

Mari Petroleum Company Limited (MPCL) discovered a huge gas resource of one trillion cubic feet, which will help the country secure $1.5 billion in annual foreign investment.

According to some sources, MPCL has made a significant discovery that will secure the country’s annual foreign investment of $1.5 billion.

“This is good news for a country in need of power, as it is predicted that this reservoir will conduct nearly 15% of the country’s overall gas production,” a source familiar with the development said.

The price for this local gas, according to his claim, will be approximately $4 per million British Thermal Unit (MMBTU), compared to the government’s current rate of $25 per MMBTU for liquefied natural gas (LNG).Every day, a total of 200 million cubic feet of gas will be delivered from various fields (MMCFD).

In addition, the development of crude oil from the Bannu west block has begun.The investigation of the ST-1 field in the Bannu west block of North Waziristan, Khyber Pakhtunkhwa, has begun to generate roughly 25 million cubic feet of gas, according to MPCL.

According to MPCL, the well was drilled on June 6, 2021, and reached a depth of 4,915 metres.

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