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ISLAMABAD: Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain Tuesday said one billion cubic feet natural gas would be added in the system following the discovery of 400 billion cubic feet from Bhadra Gas Field situated in Dadu district of Sindh.
Talking to media persons, he said the new discovery has been reported in Bhadra Gas Field Block II. In the field from 300 to 400 billion cubic feet (estimated) Gas reserves are available. But initially only 30 MMCF Gas would be extracted from the field. The government has added from 400 to 600 MMF gas in the system.
The new discovery would help mitigating the energy crisis prevailing in the country. The availability of gas during the incoming winter would be much better as comparing to last winter season, he said.
A new Oil Refinery is being established in Khyber Pakhtunkhaw. Oil and Gas Development Authority (OGDCL) would dig 36 wells next year. The training institute of OGDCL would be converted into Petro Chemical Institute. Admissions in the institute would be given strictly on merit. Later on the institute would be converted into a university with the financial assistance of Poland.
PPL has won contracts in Iraq after competing with several countries, he said and added that OGDCL was investing in United States, Afghanistan and Morocco, he said.
The policy of Shale Gas would also be announced soon. Currently the reserves of Shale Gas stands 51 TCF, the reserves of Tight Gas stands 20 TCF.
The demand of Oil in the country stands 380000 barrel per day while production is only 60,000 barrels per day. The production would be enhanced upto 90,000 barrels by April 2013.
Efforts were underway to get Gas from Petronaz. Work was being continued on LNG project. The energy shortage in the country would be soon overcome.
Work has been started in closed gas fields of Sindh. One filed has been given to Kuwait. Road shows would be organized in Dubai, Houstan and London. Bidding for exploring 60 new blocks would be held soon.
Responding to a question, he said there is no proposal to ban Gas generators. Fifty-two licenses have been granted under the policy of 1994.
He said the effective policies of the Government have started producing positive results. He recalled that the first petroleum policy was announced by the Government of Pakistan Peoples Party in 1994, resulting extensive drilling. The Government had announced another petroleum policy in year 2009.
And yet another comprehensive policy was announced in the year 2012. The policy has started producing positive results. Now the reasonable price of the Gas would be paid to the exploring companies. The price has been increased from US $ 2 to $6 per MMBTU, he added.
Copyright APP (Associated Press of Pakistan), 2012
300 to 400 billion cubic feet new gas reserves discovered
Talking to media persons, he said the new discovery has been reported in Bhadra Gas Field Block II. In the field from 300 to 400 billion cubic feet (estimated) Gas reserves are available. But initially only 30 MMCF Gas would be extracted from the field. The government has added from 400 to 600 MMF gas in the system.
The new discovery would help mitigating the energy crisis prevailing in the country. The availability of gas during the incoming winter would be much better as comparing to last winter season, he said.
A new Oil Refinery is being established in Khyber Pakhtunkhaw. Oil and Gas Development Authority (OGDCL) would dig 36 wells next year. The training institute of OGDCL would be converted into Petro Chemical Institute. Admissions in the institute would be given strictly on merit. Later on the institute would be converted into a university with the financial assistance of Poland.
PPL has won contracts in Iraq after competing with several countries, he said and added that OGDCL was investing in United States, Afghanistan and Morocco, he said.
The policy of Shale Gas would also be announced soon. Currently the reserves of Shale Gas stands 51 TCF, the reserves of Tight Gas stands 20 TCF.
The demand of Oil in the country stands 380000 barrel per day while production is only 60,000 barrels per day. The production would be enhanced upto 90,000 barrels by April 2013.
Efforts were underway to get Gas from Petronaz. Work was being continued on LNG project. The energy shortage in the country would be soon overcome.
Work has been started in closed gas fields of Sindh. One filed has been given to Kuwait. Road shows would be organized in Dubai, Houstan and London. Bidding for exploring 60 new blocks would be held soon.
Responding to a question, he said there is no proposal to ban Gas generators. Fifty-two licenses have been granted under the policy of 1994.
He said the effective policies of the Government have started producing positive results. He recalled that the first petroleum policy was announced by the Government of Pakistan Peoples Party in 1994, resulting extensive drilling. The Government had announced another petroleum policy in year 2009.
And yet another comprehensive policy was announced in the year 2012. The policy has started producing positive results. Now the reasonable price of the Gas would be paid to the exploring companies. The price has been increased from US $ 2 to $6 per MMBTU, he added.
Copyright APP (Associated Press of Pakistan), 2012
300 to 400 billion cubic feet new gas reserves discovered
