Paret Mining LLC, owned by Haitian-American tycoon Emmanuel Fritz Paret, has strengthened its position in the U.S. oil and gas sector. This is reported in the Paret Mining press release.
As part of the deal, Paret Mining acquired oil resources on an area of 10,000 acres on the territory of Bowling Green (Kentucky), which includes 150 oil and gas wells with resources in the amount of 140 million barrels of oil. The deal is aimed at strengthening the company's leading position in the oil and gas industry.
The deal also includes the construction of a gas pipeline, an essential infrastructure facility to provide natural gas to Kentucky's aluminum industry, which is the basis for the viability of the state's economy.
Emmanuel Paret provided a comprehensive asset development plan focused on continuing exploration of light and heavy oil fields in order to expand the company's natural gas production capabilities.
E.Paret continues to explore more than 300 new drilling sites at sites that will identify oil-producing zones at a depth of 3 thousand feet. According to analysts, more than 1 billion barrels of oil can be stored in these reservoirs.
In addition, Paret Mining plans to mine and supply limestone and calcium aggregate to a facility in Kentucky that will support construction and industrial projects with a diversified approach to local resource management to increase profits.
Paret Mining is a mining company with assets worth more than $80 billion under management. The company has extensive experience in open pit mining based on advanced technologies and modern equipment. Paret Mining supplies calcium carbonate, iron and tin ore, coal and crude oil. The headquarters is located in the state of Kentucky (USA).
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