ATTOCK - Prime Minister Shahid Khaqan Abbasi has said that only democracy can guarantee prosperity, development and stability in the country.

Technocrat or non-democratic government neither benefitted the country in the past nor will bring any benefit in the future.

He said this after inaugurating an oil well at Jhandial in Fateh Jang, Attock District.

The well according to preliminary estimates indicates recoverable reserves of at least 292 billion standard cubic feet of gas and 23 million barrels of oil per annum.

Punjab Chief Minister Shehbaz Sharif, Minister for Defence Khurram-Dastgir Khan, Minister for Parliamentary Affairs Sheikh Aftab and Minister of State for Petroleum Jam Kamal were present on the occasion. The prime minister said that the government of the PML-N had put the country on the right track of development and this all was because of the policies of former prime minister Mian Nawaz Sharif.

PM Abbasi said that his policies would be followed to ensure prosperity.

He said that in 2013 people elected the PML-N and now its results were very clear in the shape of development.

PM Abbasi said that in 2018 general elections people would elect their representatives keeping in view the betterment of the country.

On the occasion, the prime minister was informed that it was the first major discovery by the Pakistan Oil fields Limited (POL) in the last five years.  Jhandial well is located in Ikhlas Block in Northern Potohar, about 83 kilometres southwest of Islamabad in District Attock.

The Jhandial discovery is expected to contribute to the country’s energy sustainability, while also having a positive impact on the future of exploratory efforts in the block and surrounding areas.

The well will be connected to the production line in around a fortnight and will gradually attain full potential.

The POL holds 80 per cent share in the block whereas the Attock Oil Company (AOC) has a 20 per cent share.

The experts say the block from where the discovery has been made was located in a prospective but geologically-complex area surrounded by a number of significant oil discoveries.

The drilling of the deep exploratory well Jhandial-1 was proposed after acquisition and interpretation of 3D seismic data.  The prime minister was briefed about the new discovery.

He was informed that the well was drilled to a total depth of 18,497 feet to test the Eocene and Paleocene carbonate reservoirs.

Chief Minister Punjab Mian Shehbaz Sharif, while addressing the gathering said that Pakistan was full of natural resources, which was playing a vital role in strengthening the economy.

After a long interval, oil has been explored in this area of Attock District.

Shehbaz Sharif said that this exploration of oil in the area would surely strengthen the economy and bring prosperity in the area.

He said that a technical college would be built in Jhandial and work on this project would be started soon. Shehbaz said, during the last four years record development had taken place and the country had been put on the right track of development.  He said, during the tenure of the PML-N, new power plants had been installed by federal and provincial governments generating 3,600MW electricity, while work on another power plant had been started, which would generate 1,250MW electricity.

Chairman POL Shoaib Anwar Malik in his welcome address said that this oil well would produce 2,500 gallon oil on a daily basis.