Minister for Petroleum Shahid Khaqan Abbasi told the Senate during question hour that according to a US study there are 95 trillion cubic feet of shale gas reserves and 14 billion barrels of shale oil in the lower and middle Indus River Basin.
Abbasi said that the expenditures are being worked out for the shale gas exploration, adding that Pakistan have the technology to explore shale gas and the domestic companies have been given the task of the exploration.
The minister alos said that the government has passed on maximum benefit of declining oil prices in the international market to the consumers.
Replying to another question, Abbasi said that 188 billion rupees have been collected as Gas Infrastructure Development Cess (GIDC) from January 2012 to 15th February 2016. The cess will be utilized by the federal government in connection with infrastructure development of Iran-Pakistan Pipeline project, Turkmenistan-Afghanistan-Pakistan-India Pipeline Project, LNG and other ancillary projects, he added.