Offshore drilling for oil reserves completed up to 3,500 meter: Asad Umar

ISLAMABAD: Finance Minister Asad Umar on Wednesday said offshore drilling up to 3,500 meter had been completed for exploration of oil and gas reserves, ARY News reported.

“After completion of 5,000 meter drilling, the volume of oil reserves will be estimated,” Asad Umar said in a statement.

He said work on offshore drilling for oil which, was a high-risk operation, was underway. It would be a big discovery if we found oil offshore, he added.

The finance minister said the most difficult job at the grass roots was reforms.

“We have brought reforms in education and police sectors, while we faced difficulties in the health sector but soon improvements will be witnessed in this as well,” he said.

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He said the country was progressing towards economical recovery and the nation would see improvement in this also.

“A positive situation will be surfaced in the economy sector in upcoming June budget,” he said.

Asad Umar said 2 million jobs could not be created if the economy was not on 7 percent growth rate.

On March 26, Federal Minister for Petroleum Ghulam Sarwar Khan had said the government was hopeful of ‘good news’ regarding offshore drilling for exploration of oil and gas.

The minister had said it was expected that a huge treasure could be found in the wake of information the government was getting.