PPL chief says 86% chance no reserv­es would be found at Kekra-I wellKARACHI : Prime Minister Imran Khan was reportedly misinformed about the presence of natural gas reserves near Karachi coast as there is a 86% chance that the expected reserves – called Kekra-I – would not be found under the surface of the sea. The project entails a cost of Rs124 billion on account of digging and associated machinery and other resources. The PPL is in talks with a Saudi company for expansion of its mining operations, while the state oil company of Iraq is also contemplating a deal for drilling and exploration. “We are currently focusing on our existing oil and gas fields. We have discovered reserves of tight gas in Hub and are working towards ascertainment of their commercial nature,” PPL managing director said.

Source: The Express Tribune October 28, 2019 19:18 UTC