A huge gas resource of one trillion cubic feet was discovered by Mari Petroleum Company Limited (MPCL), which will help the country secure $1.5 billion in annual foreign investment.
According to some sources, MPCL has made an important revelation, and the annual foreign investment of the country of $1.5 billion will be secured as an outcome of this finding.
“This is good news for a country which is requiring power, as it has been predicted that nearly 15% of the country’s overall gas production will be conducted by this reservoir,” a source familiar with the development stated.
According to his statement, the price for this local gas will be nearly $4 per million British Thermal Unit (MMBTU), with the government currently paying $25 per MMBTU for liquefied natural gas (LNG).
A total of 200 million cubic feet of gas will be supplied every day from different fields (MMCFD). As with this, the development of crude oil from the Bannu west block has also been started.
As per MPCL, the investigation of ST-1 field in the Bannu west block in North Waziristan, Khyber Pakhtunkhwa, has started to produce around 25 million cubic feet of gas.Â
As per MPCL, the well was dug in on June 6, 2021, and was dug down to a depth of 4,915 metres. Â
