ISLAMABAD, Nov 25: Minister for Petroleum and Natural Resources, Ch. Nouraiz Shakoor on Tuesday said about $1 billion were invested in exploration and production sector in Pakistan by foreign oil and gas companies during the last year.

The investment was the result of continuity of policies of Musharraf government and further steps taken by present regime to accelerate pace of development activities in petroleum sector, he said while talking to newsmen here.

The Minister said during the last year, 13 licenses were granted over an area covering almost 20,000 sq km in all the four provinces.

A total of 68 wells — 27 exploratory and 41 appraisal/ development wells — were drilled in one year, he added.

Nouraiz Shakoor said five oil and gas discoveries of good commercial volume were made, three of OGDCL and one each of MOL and OPL while four new gas fields including Zamzama, Mazarani, Bhit, and Sawan were put into production.—APP