Minister for Maritime Affairs and Foreign Affairs Abdullah Hussain Haroon on Friday said that ExxonMobil has indicated that it is close to hitting huge oil reserves near the Pak-Iran border, which could be even bigger than the Kuwaiti reserves.
Addressing business leaders at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the minister said that ExxonMobil - an American multinational oil and gas company - has so far drilled up to 5,000 meters close to the Iranian border and is optimistic about the oil find.
The Government of Pakistan, he said, has already taken an undertaking from the company to set up a generation complex worth $10 billion.
The government is also encouraging Chinese and Western investment in the country, he added.