ISLAMABAD: Oil and gas reservoirs could not be discovered in offshore drilling along the coast of Karachi, ARY News reported on Saturday.
Sources of the Ministry of Petroleum said drilling has been stopped at Kekra-I. They said drilling was done up to more than 5,500 meters.
The sources said high officials of the Ministry of Petroleum had confirmed that no reservoir of oil and gas could be traced.
ARY News correspondent Hamza Farooq added a consortium of four companies had invested 100 million dollars in this project.
On May 15, Federal Minister for Maritime Affairs Ali Zaidi had expressed positive hope about oil discovery and said final result in this regard would be announced within a week.
Read More: Minister Ali Zaidi positive about oil discovery
The minister had claimed only 26 meters more drilling would be done in search for oil and gas. He said the team working on offshore drilling along the coast of Karachi had found pressure signal upon drilling up to 5474 meter.
He said the drilling work had not been completed yet and it would continue until 5500-meter mark was reached.
“Most probably the oil reservoir is releasing pressure. The pressure was released from different points, which is a good sign,” he had said in a statement.
