ISLAMABAD - Ministry of Petroleum has prepared plan for drilling of 110 wells for oil and gas exploration during the year 2013-14 to meet the  demand of energy. The govt intends to grant licences to 50 foreign firms for exploration in addition to OGDCL and PPL which are actively engaged in exploration activities in country.  Sources in the Ministry  said that proved gas reserves would exhaust in the next sixteen years and if there were no new discoveries the country would be in a very difficult situation.

They said it was necessary to start exploration in Balochistan which is rich in gas after seeking assurances of security from the provincial government and tribal elders of the respective areas.