KARACHI: The Oil and Gas Development Company (OGDCL) on Monday rejects media reports that it has discovered huge reserves of shale gas in Sindh.
The company issued a press statement dismissing the media reports in this regard, calling them "factually incorrect".
It denied making any statements on the drilling or discovery of the reserves whatsoever. The OGDCL reiterated that while it plans on drilling for shale gas in future, it has not done so yet.
"Recently there were some media reports regarding discovery of shale hydrocarbons by OGDCL. The information is factually incorrect as OGDCL has neither shared any information in this regard nor has the company so far drilled any shale well," it said in the statement.
"OGDCL is, however, working on a Shale Pilot Project which includes drilling of a shale well at a future date," it added.
The company further said that its clarification comes as it is a compliance and regulatory requirement of stock exchanges in Pakistan and London to do so amid circulation of such reports.
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