The 17th attempt to find hydrocarbons off the shore of Pakistan has been futile as no oil and gas reserves have been found, Special Assistant to Prime Minister on Petroleum Nadeem Babar said Saturday.

Four months ago, Italian firm ENI, the operator of the Kekra-1 offshore block, started drilling in a joint venture with US firm ExxonMobil, one of the world’s largest oil and gas firm, and the Pakistan state-owned Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL).

Pakistan was hopeful of finding large oil and gas reserves in its territorial waters in the Arabian Sea. US oil giant Exxon Mobil, Italy’s ENI and a couple of other companies had been involved in drilling an ultra-deep oil well.

Speaking exclusively to Geo News, Babar said the process of drilling up to more than 5500 meters was completed on Kekra-1 off Karachi coast.

He said Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) also assisted Exxon Mobil and ENI in drilling the oil well.

The PM’s aide said the office of DG Petroleum Concessions has been apprised of the results of drilling.

He further informed that the cost of drilling project, which has now been abandoned, remained over $100 million.

Earlier this year, PM Imran Khan had said Pakistan would not need to import oil after reserves were found near Karachi coast.

We are hopeful of finding large reserves of oil and gas in the sea near Karachi. The nation should pray for this and I will soon share good news regarding this, Imran Khan had told reporters in Islamabad.

God willing the reserves will be so large that we will not need to import any oil.