ISLAMABAD - The government is in process of finalizing a policy to exploit massive Shale gas and oil reserves, identified after a study completed in collaboration with  the USAID, covering lower and middle Indus Basin. “Shale gas policy is being prepared for onward submission and approval of the quarters concerned,” a senior official in the Petroleum Division told APP. In 2015, he said a study completed in cooperation with the USAID had confirmed presence of 10,159 trillion cubic feet (TCF) Shale gas and 2,323  billion of stock tank barrels (BSTB) Shale oil in place resources. While, the second phase of the study would be launched in other potential areas to assess the sedimentary rock-based fuel reserves in the country. After identification of the deposits, a task had been given to Oil and Gas Development Company Limited and Pakistan Petroleum Limited to undertake pilot project(s) in potential areas to assess the cost of extracting Shale gas and oil, which could not be launched to-date. According to the study, there are 188TCF gas and 58 BSTB oil technically recoverable resources, while the risked technically recoverable resources stand at 95TCF gas and 14 BSTB oil.