The Khyber Pakhtunkhwa government has achieved another major success in the oil and gas sector. Miran Block Exploration Agreement signed for oil and gas exploration in Khyber Pakhtunkhwa! An agreement was signed for the exploration of oil and gas in the Miran block of North Waziristan. Chief Minister Ali Amin Khan Gandapur attended the ceremony held at Pakhtunkhwa House, Islamabad, as the chief guest.

Under the agreement, Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) will own 51 percent of the shares and profits, while the remaining 49 percent will be held by OGDCL and other companies. The project will involve an investment of Rs20 billion over the next three years, which will be fully funded by the partner companies, and there will be no financial burden on the provincial government.

The Chief Minister said that there are possibilities of finding vast oil and gas reserves in the Miran block, and its discovery will not only help in overcoming the energy crisis but will also create development, prosperity and employment opportunities in the region. He said that Khyber Pakhtunkhwa produces 42% of the country’s oil, 13% of gas and 40% of LPG, and the province has allocated Rs3 billion in the budget to discover more reserves.

The Chief Minister assured that the government will provide all possible security to the companies working in the Miran block so that the project can be successfully completed