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Summary Exploration of oil and gas reserves was losing pace due to deteriorating law and order situation.
Exploration of oil and gas reserves was losing pace due to deteriorating law and order situation and increasing circular debt.According to a report of the Topline Research, 80 wells of oil and gas had to be explored during the current year but only 30 wells were explored during the first 9 months. The report said that rising circular debt blocked free flow of cash in the sector which put a negative effect on drilling activities. The report further said that worsening security situation in the two provinces – Balochistan and Khyber Pakhtunkhwa – also hampered exploration of new reserves.
