ISLAMABAD  - The government, as part of its steps to meet oil and gas requirements of the country, would soon grant another 30 blocks to Exploration and Production (E&P) Companies.

Presently various Exploration and Production Companies are holding 153 exploration licenses to explore oil and gas reservoirs. According to an information provided by Ministry of Petroleum and Natural Resources here on Sunday, presently there are 10 major oil reservoirs, having more than 10 million barrels of recoverable oil. The government, in order to explore oil and gas, has offered lucrative incentives to investors for investment in E&P sector and at the same time efforts are being made to enhance exploration activities by providing secured and conducive working environment. Moreover, efforts are also being made to explore deeper prospects and under explored, geological frontiers to add new oil and gas reservoirs. The authorities are also making efforts to pave way for exploration of Shale Gas/Shale Oil.