Oil and gas sector attracts over $700 million during fiscal year 2007

The oil and gas exploration sector in Pakistan attracted an investment of more than $700 million during the nine months of the last fiscal year 2006-07, up by 23.6 percent over the same period last year.
According to Economic Survey data, 46 wells were drilled during July-March 2006-07, of which 19 wells by the public sector while 27 by the private sector. Out of the total drilled wells, 19 are in appraisal and development phase, 5 of them in public sector and 14 in private sector.
During July-March 2005-06, the public sector had drilled 18 wells while private sector 23, making a total at 41 wells at an investment of $567 million. During July-June 2005-06, the total number of exploratory wells were 64, of which 30 were drilled by public sector and 34 by private sector.