KARAK: Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) chair was opened in Khushal Khan Khattak University Karak here on Monday.

The KPOGCL chair was jointly inaugurated by the company’s chief executive Raziuddin and Vice-Chancellor Prof Mirza Jan in the newly constructed building of the university.

Speaking on the occasion, Raziuddin said the daily production of oil had reached 52,000 barrels in the province. He added that 200,000 barrels of oil production daily was the company’s target until 2025.

He said huge natural resources existed in the province which could be explored to put the country on the track to development. He said as the company needed trained geologists and engineers, it established its chair in the Karak university to establish close liaison with the academia.

Mr Raziuddin said five oil refineries had been planned in Khyber Pakhtunkhwa and in the first phase, one refinery each would be built in Karak and Kohat districts.

The KPOGCL chief said the firm was set up under the 18th amendment and added that from July next oil exploration would be started in Lakki block, while NOC had been sought from the central government to start work in Khushal block. — Correspondent