Sixteen oil and gas exploration companies have initiated exploration work in Khyber, Orakzai, North Waziristan and South Waziristan agencies as well as in Frontier Regions (FRs) Peshawar, Kohat, Bannu, Tank and D.I. Khan.
This was told to Governor Khyber-Pakhtunkhwa, Barrister Masood Kausar, in a presentation on Source Rock Mapping and Investigation of Hydrocarbon Potential (SRMIHP) here at Governor's House.
The Governor directed removal of the impediments in the implementation process of Source Rock Mapping and Investigation of Hydrocarbon Potential (SRMIHP) in FATA to accelerate practical work on the oil and gas exploration in the FATA and adjoining areas.
Speaking on the occasion, the governor said that they want to see a productive and meaningful headway under the project as being vital for the economic development of the country and FATA. Project Co-ordinator Fazali Rabbi Khan in his presentation held here at Governor's House expressed that initiated in 2008 under an agreement between the FDA and National Centre of Excellence in Geology Peshawar University after formal approval the project costs Rs 39.852 million and it is to be completed by June 2012.
The project's objectives include identifying hydrocarbon generating rocks and its spatial distribution in the region; preparing a Geo-database regarding hydrocarbon potential and generating a systematic data and attract oil and gas companies for exploration in the area. He said that the basic objectives of the project has been achieved by preparing Geo-database, identifying target areas and attracting oil and gas companies to come in for exploration.
The Governor emphasised the need to ascertain the main reasons to know as to why the work could not be started despite the interest shown by different companies. "We must identify the areas where efforts are needed to ensure the work is initiated", the Governor stressed and said that the difficulties would be sorted out in consultation with the respective companies.
He said although the security is the main concern yet it could be managed keeping in view the significance and importance of the project. He said that oil and gas exploration in FATA would not only help overcome the energy crises but also give a big boost to our efforts for the socio-economic development of FATA and its people. The Governor appreciated the achievements under the project and stressed that the end result should be meaningful and encouraging. The presentation was attended among others by the Chief Executive FDA Zubair Asghar Qureshi, Mazhar Ali Khan GM Minerals FATA, Additional Secretary to Governor Daud Khan and Geologists and Research Fellows of the Project.
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