Pakistan developing new exploration incentives

Aiming to boost oil exploration within its country, Pakistan is finalizing a new petroleum policy to give special incentives to conduct deep sea drilling in its territorial waters.

By an OGJ correspondent
KARACHI, Oct. 7 -- Aiming to boost oil exploration within its country, Pakistan is finalizing a new petroleum policy to give special incentives to conduct deep sea drilling in its territorial waters. Chairman Special Committee on Petroleum Asim Jan will present the new policy to the federal cabinet when it meets in mid-October.

The new policy has divided offshore exploration zones into three areas: shallow, deep and ultradeep zones. Under the new policy, a fresh set of incentives will be offered to oil and gas exploration firms.

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