Pakistan to get $5 bn over 3 years for petroleum, gas exploration: Sharif

Pakistan is expected to get an investment of USD 5 billion over the next three years from local and international firms for the exploration and development of petroleum and gas reserves that will save the cash-strapped country's valuable foreign exchange and provide relief to the common man bearing the brunt of high fuel prices.

The announcement was made in a meeting presided over by Prime Minister Shehbaz Sharif on Saturday during a meeting with a delegation of oil and gas exploration and production sector companies.

According to the state-run Associated Press of Pakistan, the meeting was informed that during three years, around 240 places would be excavated with an investment of USD 5 billion to explore petroleum and gas in Pakistan.

The meeting was informed that currently, Pakistan's domestic production stood at 70,998 barrels and 3,131 MMSCFD (million standard cubic feet) gas per day.

The prime minister invited petroleum and gas exploration and production companies to also find