PESHAWAR, May 16: A recent geo-scientific research has indicated for the first time that the Federally Administered Tribal Areas (Fata) has oil and gas potential. The research work in this regard was conducted jointly by the National Centre for Excellence in Geology at Peshawar University, the Governor’s Secretariat in Fata and Australia’s Macquarie University.

The work was published in the respected Italian journal, Rivista Italiana di Paleontologia e stratigrafia.

The geological studies carried out in Tirah area of Khyber Agency indicate a favourable geological environment for potential hydrocarbon research in the region. Recently, major oil and gas discoveries were made in the Thall block, situated at the southern border of Fata, according to a handout issued on Monday.

About two-thirds of the 27,220-sq. kilometre-long tribal belt in Fata consists of sedimentary rocks, warranting extensive exploration for oil and gas, the handout said.

The Governor’s Secretariat claims that it has already initiated efforts to invite major national and international oil and gas exploration companies to undertake hydrocarbon exploration in the region. It has promised to provide all possible help to intending investors in this regard.