http://www.gulf-news.com/Articles/Business...rticleID=120246

Total to start Pakistan offshore drilling soon
Bloomberg

Islamabad: Total SA, Europe's third-largest oil company, said it will start drilling for oil and natural gas off Pakistan's shore this month, a project in which it plans to invest $2 billion if successful.

Work will start after its rig arrives in the southern port of Karachi, Bernard Pinnoy, the chief executive of unit Total Parco Pakistan Ltd said in an interview in Islamabad. The company plans to spend $30 million on the test drilling. "An initial survey has given us the confidence," he said.

Total bought a license from the government on July 3 to look for reserves in Pakistan's ultra-deep sea, more than 1,000 metres below the surface, 60 nautical miles off the coast of Karachi. The company will drill for the first time in Pakistan after nine attempts to strike oil in the nation's seas failed.

Pakistan, which imports about 85 per cent of the fuel it uses each year, mostly from Saudi Arabia and Kuwait, is seeking to boost local production. Pakistan's oil import bill was a quarter of its total $12 billion in imports in the year ended June 30.

Total, which formed a venture with local Pak-Arab Refinery Co., plans to invest $150 million in the next 15 years marketing its oil products and setting up gas stations in the country, Pinnoy said. The venture started 38 outlets in the last three years and plans 58 more each year in Pakistan, a nation of 150 million people, he said.

"Our investment is guided by the government's policies, which have opened up the country to new investors,'' Pinnoy said.

Been waiting ND WAITING AND WAITING FOR THIS nuz

Now I understand the french condolences in the attack on our Chinese brothers and allies.

It's a very small begining but also hopeful -

Sino has a BIG smile on his face!

But Sino, if we discover oil in Pakistan, that would be good for the country, since we can make a lot of revenue, and become a Dubai like state [Inshallah], but then wont America be after us for that oil, like it went after Iraq?

Dude,
IF we struck oil, and God willing we will, with our shear size of population would not be able to become a Dubai..

We need a lot of oil to get there..

Do not worry about the USA, they have better things to do than to engage in a conflict with crazy Pakistanis..

so many castles in the clouds already....

pakistan becoming like Dubai...
america coming after pakistan for its oil

today..
its a good thing..meaning an initiative towrads offshore drilling cause simply we cant afford to do that on our own..

tomorrow
aik andai main sai poultry farm bhi khul sakta hai....

good news though

good news!
though..why have too much expectation..i mean..ok they r investing..but a mere 2 billions$ won't make u dubai!Beside..any idea abt the oil reserve