Pakistan has 27 billion barrel oil reservoirs: Dr Asim

Adviser on Petroleum and Natural Resources Dr Asim Hussain says Pakistan possesses 27 billion barrel oil and 280 trillion cubic feet gas resources. Inaugurating a two-day conference in Canada Dr Asim said that only 3.4 percent oil and 19 percent gas have been utilized. He said that exploration process should be speeded up which could cater the needs of the neighboring countries besides Pakistan. He said that Pakistan provided investment opportunities in oil and gas sector on soft conditions. He said that the current production of gas per day was four billion cubic feet, adding that gas reservoirs were getting short. He said that the government had estimated four BCFD difference between production and supply in 2015.