Breaking! Large oil, gas reserves found near Karachi: PM

[xyxmt]

This was another wrong decision by IK to announce big discovery in three weeks, how about waiting three weeks!!

 

[shahbaz baig]

Are these "experts" busy drilling in the middle of the Arabian Sea and giving sitting Prime Minister minute by minute updates?

If yes then I'll take their word for it, otherwise these "experts" can shove their opinion where the sun don't shine.

Where the sun don't shine they need farming of bamboos there.

it's really frustrating now, these experts have been suggesting where to drill for long time. And when country decided to drill on suggested location they always come up with their pathetic excuses, I mean what's good of so called experts? I am really unable to understand what's wrong with their expected massive oil discovery analysis since day one. First their assumptions make us happy then their excuses disappoint us badly.

 

[Amaa'n]

Are these "experts" busy drilling in the middle of the Arabian Sea and giving sitting Prime Minister minute by minute updates?


If yes then I'll take their word for it, otherwise these "experts" can shove their opinion where the sun don't shine.

bro, there is no need to be offended by the news, just try to hear them out and understand the situation. It is no place for PM to speak about Reservoir at this early stage when we havn't even reached it yet. Drilling Data for such exploration wells are kept confidential for a reason and only few will have access to it.
Knowing some ABC & XYZ about the drilling industry I can tell you the same that the "experts" are correct in what they are saying. Before this news came out I had shared the last operation that was on-going and it showed that we are still in Drilling Operation. Everything at this stage is just a calculated guess & nothing is authentic till we retrieve the core samples taken at different depths & analysis them. There will be studies to know formation pressure, the feasibility studies etc, and this you cannot do till you are in the actual reservoir.

Offshore wells take time because they are High Pressure High Temperature wells and not easy to go by.

 

[Microsoft]

bro, there is no need to be offended by the news, just try to hear them out and understand the situation. It is no place for PM to speak about Reservoir at this early stage when we havn't even reached it yet. Drilling Data for such exploration wells are kept confidential for a reason and only few will have access to it.
Knowing some ABC & XYZ about the drilling industry I can tell you the same that the "experts" are correct in what they are saying. Before this news came out I had shared the last operation that was on-going and it showed that we are still in Drilling Operation. Everything at this stage is just a calculated guess & nothing is authentic till we retrieve the core samples taken at different depths & analysis them. There will be studies to know formation pressure, the feasibility studies etc, and this you cannot do till you are in the actual reservoir.

Offshore wells take time because they are High Pressure High Temperature wells and not easy to go by.

Could you hazard a guess as to how long until we get concrete results? A number like 3 weeks/end of April was being thrown around not sure how accurate that is.

Also I read that this specific well is about $70-80 million investment by 4 companies is that normal? Or does this exceed average investment for a well, especially in Pakistan?

 

[Amaa'n]

Could you hazard a guess as to how long until we get concrete results? A number like 3 weeks/end of April was being thrown around not sure how accurate that is.

Also I read that this specific well is about $70-80 million investment by 4 companies is that normal? Or does this exceed average investment for a well, especially in Pakistan?

end of April or may would be a wise call to make, it will be around that time the companies can make a Public statement.
a figure of 70-80$ mil is the initial investment....an offshore Drilling unit can have a day rate of 250k$ - 400k$, it varies now this is a Day rate, only for the Drilling Unit. There are many other services that are being provided to run the operation smoothly, each Service provided to the Well Operator can vary from 50k$ - 100k$, this will be in terms of Drilling Fluid, Well Logging & Well Engineering......

 

[r0ck]

Unfortunately

Experts reject claim of major oil, gas discovery

Glanced through it and gotta say poor effort by the author, puts the credibility of this entire "anonymous-source" newspiece in question:

1. Routinely refers ExxonMobil as Exxon Mobile;

2. Claims "when contacted Mr Irtiza Sayyed, CEO ExxonMobile...", this guy aint the CEO of ExxonMobil. Might be CEO of some ExxonMobile .

3. Says ENI is lead operator and rest are sleeping partners. But then how come "The ExxonMobile had to again spud the well by 1,500 meters" and "ExxonMobile was yet to go 1800 meters deep", makes ExxonMobil a sleeping partner??

TBF though these matters are usually confidential at such early stages, but I think presumably PM has access to better informed sources and made the announcement with consideration. Presumably !!

 

[Riz]

This was another wrong decision by IK to announce big discovery in three weeks, how about waiting three weeks!!

I dont know why u guys even think like this way...are u trying to say now because khan talked about this maga discovery so God stopped this gift .. Or pressure kick stopped right after khan announcement of some good news..???

 

[Microsoft]

end of April or may would be a wise call to make, it will be around that time the companies can make a Public statement.
a figure of 70-80$ mil is the initial investment....an offshore Drilling unit can have a day rate of 250k$ - 400k$, it varies now this is a Day rate, only for the Drilling Unit. There are many other services that are being provided to run the operation smoothly, each Service provided to the Well Operator can vary from 50k$ - 100k$, this will be in terms of Drilling Fluid, Well Logging & Well Engineering......

Thanks for your input. I meant $70-80 million by each company btw since that was not clear.

 

[Tps43]

tell it to Gulf News (and Iran which believes that it is saving Sistan reserves for the future)

They have oil reserves in their province of azerbijan east and west and saving those for future

 

[shahbaz baig]

This was another wrong decision by IK to announce big discovery in three weeks, how about waiting three weeks!!

Glanced through it and gotta say poor effort by the author, puts the credibility of this entire "anonymous-source" newspiece in question:

1. Routinely refers ExxonMobil as Exxon Mobile;

2. Claims "when contacted Mr Irtiza Sayyed, CEO ExxonMobile...", this guy aint the CEO of ExxonMobil. Might be CEO of some ExxonMobile .

3. Says ENI is lead operator and rest are sleeping partners. But then how come "The ExxonMobile had to again spud the well by 1,500 meters" and "ExxonMobile was yet to go 1800 meters deep", makes ExxonMobil a sleeping partner??

TBF though these matters are usually confidential at such early stages, but I think presumably PM has access to better informed sources and made the announcement with consideration. Presumably !!

Thanks for giving me another hope by highlighting the drawbacks & lies of my posted article, "Experts reject claim of major oil, gas discovery"

 

[Zibago]

Unfortunately

Experts reject claim of major oil, gas discovery

The magic word here is the news

 

[Max]

The magic word here is the news

someone is making PM fool, how can someone tell to wait for Khush khabri when drilling not reached the depth it was planned for?

 

[The Accountant]

someone is making PM fool, how can someone tell to wait for Khush khabri when drilling not reached the depth it was planned for?

Read the news correctly, this is just piece of shit ...

THey have already reached at 4800 feet and closed the well due to excessive pressure and damage of equipment which is a major indicator ... They have started drilling sideways and the depth of sideways drilling is 3000 meters ...

Basically the article is playing with words and I suspect the aritcle is posted on behalf of share market to create a panic and get benefit from that panic ...

Try reading article sentnece by sentence and you will identify that he is manipulating for example he is referring 7 earlier attempts but were those attempts in the similar block with similar depth? if not then it is not worth mentioning ..

Furthermore, if we already have digged upto 4800 meter and then plucked that well due to excessive pressure than it means we have sample from 4800 meters and that are reported to PM then why the hell he referring to second well which might have a completely different objective (may be to find a safer path to avoid excessive kick and pressure found in first drill ...

 

[Amaa'n]

Glanced through it and gotta say poor effort by the author, puts the credibility of this entire "anonymous-source" newspiece in question:

1. Routinely refers ExxonMobil as Exxon Mobile;

2. Claims "when contacted Mr Irtiza Sayyed, CEO ExxonMobile...", this guy aint the CEO of ExxonMobil. Might be CEO of some ExxonMobile .

3. Says ENI is lead operator and rest are sleeping partners. But then how come "The ExxonMobile had to again spud the well by 1,500 meters" and "ExxonMobile was yet to go 1800 meters deep", makes ExxonMobil a sleeping partner??

TBF though these matters are usually confidential at such early stages, but I think presumably PM has access to better informed sources and made the announcement with consideration. Presumably !!

a poorly drafted article is one thing and being credible is another. The article may have loopholes in it but it has described the operation correctly, that is what has actually happened.

Read the news correctly, this is just piece of shit ...

THey have already reached at 4800 feet and closed the well due to excessive pressure and damage of equipment which is a major indicator ... They have started drilling sideways and the depth of sideways drilling is 3000 meters ...

Basically the article is playing with words and I suspect the aritcle is posted on behalf of share market to create a panic and get benefit from that panic ...

Try reading article sentnece by sentence and you will identify that he is manipulating for example he is referring 7 earlier attempts but were those attempts in the similar block with similar depth? if not then it is not worth mentioning ..

Furthermore, if we already have digged upto 4800 meter and then plucked that well due to excessive pressure than it means we have sample from 4800 meters and that are reported to PM then why the hell he referring to second well which might have a completely different objective (may be to find a safer path to avoid excessive kick and pressure found in first drill ...

i don't know how to explain this to you guys, this is like someone explaining Aviation to me, two worlds apart......
When we are drilling a well, a volume of cutting reaches the surface, geologist analyze the cuttings and determine the formation we may be in. The presence of shale may indicate that we are in reservoir but it cannot tell you the volume of or size of the reservoir.

The well kicked, but that can be a Water Kick too, so it is important to know first that whether we encountered the Water kick or release of Hydrocarbons, what I have been told is that it was Hydrocarbon release.

lets just calm our nerves down & not jump the gun.....better bury the news into that deep well and wait for the official verdict before we all get our hopes up.

 

[r0ck]

a poorly drafted article is one thing and being credible is another. The article may have loopholes in it but it has described the operation correctly, that is what has actually happened.

According to whom??

I'm sorry but anonymous soundbites carry no weight!!