Pakistan’s economy stabilizes with SIFC

Islamabad: The Special Investment Facilitation Centre (SIFC) has led to significant progress in the energy sector, stabilizing the country's economy through reliance on domestic resources.

Stabilized economy is part of the priorities of the SIFC in which the energy sector is of particular importance. SIFC supported Oil and Gas Development Company Limited (OGDCL), Pakistan's largest exploration and production company discovered natural gas reserves in Sindh's Khairpur district.

The well is estimated to produce about 10 million cubic feet per day of gas, which will help meet the gas shortage in the country. This important discovery will help in the development of the energy sector in the country and the efficient utilization of hydrocarbons by utilizing local resources.

With the facilitation of SIFC, OGDCL has also started production of oil and gas from the reservoirs discovered in the Sanghar district of Sindh. The well, drilled to a depth of about 4,000 meters, is currently producing 350 barrels of oil per day and five million cubic feet of gas per day.

Stabilization of the energy sector is essential for establishing a secure and robust economy, for which SIFC's support and effective government efforts continue.