Pakistan's caretaker minister for Maritime and Foreign Affairs Abdullah Hussain Haroon expressed in an address to business leaders in the Chamber of Commerce and Industry, that US oil giant ExxonMobil was very much optimistic on reaching its target to hit a major oil reservoir near the Pakistan-Iranian border.
Recently there has been a surge in investment for oil and gas infrastructure in Pakistan, both midstream and upstream. The Pakistani government has a plan to invest $10 billion on production infrastructure. Although this venture looks far from plausible as the meek situation of the economy has forced the new government to look for bailout options from the IMF and the Chinese.
That being said, the location of the closest port from the supposed production well--Gwadar--provides very conducive means of cargo shipping, as it itself is a deep sea port and lies adjacent from the coat of Oman, closer to mainstream shipping routes and away from any possible maritime obstruction. The Karachi port can also serve as a major transport junction, however, according to Tariq Haleem (Vice President of the Chamber of Commerce) Karachi currently faces an issue of space and capacity.
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