Smarana Mitra
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I agree. But it is more of desperation rather than realistic chance of getting it.
Latest news about Oil Gas possible discovery
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Clutch
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Correction:
I have stated on this forum on multiple times that the Saipem 1200 drillship has left the drill site end of March early April.
I may have been wrong. I wish to retract that statement.
Apparently the ship is back at the site as per the latest GPS update by Marine Traffic Website.
Here is the drillship latest GPS location: https://www.marinetraffic.com/en/ai...22.50478/zoom:10/mmsi:311030700/shipid:373247
Ship info: https://www.marinetraffic.com/en/ai...msi:311030700/imo:9437359/vessel:SAIPEM_12000
I am not sure if the ship returned back to the location or it never left.
I apologize for the mistake or any misdirection.
Regards,
Clutch
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https://www.urdupoint.com/en/pakistan/exxonmobil-to-update-pm-imran-over-drilling-a-609464.html
Not sure how true this is.
Not sure how true this is.
PakSword
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I think they met yesterday.
Adnanpindi
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Pakistan bullish on oil, gas discovery at Kekra-1
ISLAMABAD: Pakistan is expecting discovery of oil and gas reserves in ultra-deep waters offshore Karachi as the drilling at Kekra-1 has almost reached its climax, an official said on Tuesday.
"There is an optimistic prospect of finding energy resources at Kekra-1,” the Special Assistant to the Prime Minister for Petroleum Nadeem Babar said. He was talking to a delegation, headed by Alex Volkov, chairman of Liquefied Natural Gas (LNG) Market Development at Exxon Mobil.
Led by US oil and gas company Exxon Mobil, a consortium consisting of Italian ENI, Oil and Gas Development Company and Pakistan Petroleum Limited is currently conducting offshore drilling at the block. The joint venture of Indus-G block spud an exploratory well – namely Kekra-1 – in ultra-deep water on 13 January, 2019. The well will be drilled up to the total depth of 5,660 meters in ultra deep waters, which is currently at 4,810 meters.
“Drilling has been entered in the phase where it will be easy to estimate that there is any oil or gas,” an official statement said.
Minister for Petroleum Omar Ayub Khan said the government would give all assistance to international investment. The government will defend free and safe investment in the country. The minister said employment would be generated after exploration.
Irtiza Syed, president of Exxon Mobil said the Exxon Mobil is interested in drilling of more offshore blocks and in LNG imports into the country. The company could also help in making of environmental friendly policy for off shore drilling.
The entry of Exxon Mobil in Pakistan is a positive signal for the exploration and production sector of the country. The petroleum division of ministry of energy has already drafted Pakistan Offshore (Exploration and Production) Rules 2019 and Model Production Sharing Agreement 2019, which will be submitted to the cabinet for approval. The government has already waived duties and taxes on import of drilling equipment to encourage indigenous exploration and production of energy resources as the country is confronted with widening gap in energy demand and supply.
The Oil and Gas Regulatory Authority (Ogra) said the gap between the supply and demand is expected to increase to the tune of 4,600 million metric cubic feet / day in FY2022/23 and 6,700 mmcfd by the FY2027/28. The country currently produces around 4,000 mmcfd of natural gas – accounting for 48 percent share in the primary energy mix – against demand of more than 6,000 mmcfd. The demand-supply gap of gas during FY2017/18 was 1,447 mmcfd. The gap is expected to rise to 3,720 mmcfd in the next fiscal year starting from July 2019.
“The possible gap would be bridged through enhancement in indigenous gas exploration and production through incentivising the sector, import of interstate natural gas – through development of cross-country gas pipelines – and increased import of liquefied natural gas,” the Ogra said in its latest state of petroleum industry report.
May 1st 2019
The News
ISLAMABAD: Pakistan is expecting discovery of oil and gas reserves in ultra-deep waters offshore Karachi as the drilling at Kekra-1 has almost reached its climax, an official said on Tuesday.
"There is an optimistic prospect of finding energy resources at Kekra-1,” the Special Assistant to the Prime Minister for Petroleum Nadeem Babar said. He was talking to a delegation, headed by Alex Volkov, chairman of Liquefied Natural Gas (LNG) Market Development at Exxon Mobil.
Led by US oil and gas company Exxon Mobil, a consortium consisting of Italian ENI, Oil and Gas Development Company and Pakistan Petroleum Limited is currently conducting offshore drilling at the block. The joint venture of Indus-G block spud an exploratory well – namely Kekra-1 – in ultra-deep water on 13 January, 2019. The well will be drilled up to the total depth of 5,660 meters in ultra deep waters, which is currently at 4,810 meters.
“Drilling has been entered in the phase where it will be easy to estimate that there is any oil or gas,” an official statement said.
Minister for Petroleum Omar Ayub Khan said the government would give all assistance to international investment. The government will defend free and safe investment in the country. The minister said employment would be generated after exploration.
Irtiza Syed, president of Exxon Mobil said the Exxon Mobil is interested in drilling of more offshore blocks and in LNG imports into the country. The company could also help in making of environmental friendly policy for off shore drilling.
The entry of Exxon Mobil in Pakistan is a positive signal for the exploration and production sector of the country. The petroleum division of ministry of energy has already drafted Pakistan Offshore (Exploration and Production) Rules 2019 and Model Production Sharing Agreement 2019, which will be submitted to the cabinet for approval. The government has already waived duties and taxes on import of drilling equipment to encourage indigenous exploration and production of energy resources as the country is confronted with widening gap in energy demand and supply.
The Oil and Gas Regulatory Authority (Ogra) said the gap between the supply and demand is expected to increase to the tune of 4,600 million metric cubic feet / day in FY2022/23 and 6,700 mmcfd by the FY2027/28. The country currently produces around 4,000 mmcfd of natural gas – accounting for 48 percent share in the primary energy mix – against demand of more than 6,000 mmcfd. The demand-supply gap of gas during FY2017/18 was 1,447 mmcfd. The gap is expected to rise to 3,720 mmcfd in the next fiscal year starting from July 2019.
“The possible gap would be bridged through enhancement in indigenous gas exploration and production through incentivising the sector, import of interstate natural gas – through development of cross-country gas pipelines – and increased import of liquefied natural gas,” the Ogra said in its latest state of petroleum industry report.
May 1st 2019
The News
ghazi52
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US energy giant ExxonMobil has expressed interest in drilling more offshore blocks in search for hydrocarbon reserves and is also looking to make investment in the liquefied natural gas (LNG) sector in Pakistan.
At present, ExxonMobil is drilling an offshore well namely Kekra-I as part of a joint venture with Italy’s Eni, Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL).
In a meeting with Federal Minister for Petroleum Division Omar Ayub Khan on Tuesday, a delegation of ExxonMobil said they were optimistic that energy resources would be discovered at Kekra-I. The delegation was headed by ExxonMobil LNG Market Development Chairman Alex Volkov.
ExxonMobil President Irtiza Syed briefed the minister and Special Assistant to Prime Minister on Petroleum Nadeem Babar about offshore drilling, saying Eni and ExxonMobil had started work on Kekra-I in January 2019.
He revealed that ExxonMobil was interested in drilling more offshore blocks and in LNG business. Apart from this, ExxonMobil could help Pakistan in framing an environment-friendly policy for offshore drilling.
The minister said Pakistan government would provide all assistance to international investors, adding that after completion of exploration work on Kekra-I, employment would be generated.
The joint venture is drilling Kekra-I well in ultra-deep waters in the Indus-G block. The well will be drilled up to the depth of 5,660 metres and the joint venture has so far reached the depth of 4,810 metres. The drilling has entered the phase where oil and gas deposits can be estimated.
The entry of ExxonMobil into Pakistan is a positive signal for the exploration and production sector of the country. The Petroleum Division has drafted Pakistan Offshore (Exploration and Production) Rules 2019 and Model Production Sharing Agreement 2019, which will be sent to the cabinet for approval.
In a bid to woo foreign investors, the government has waived duties and taxes on the import of drilling equipment.
The ExxonMobil delegation also met President Arif Alvi at Aiwan-e-Sadr, who was briefed about the company’s ongoing and future investment projects in Pakistan.
The president appreciated ExxonMobil’s entry into the LNG business and encouraged the company to make further investment in the upstream petroleum sector by taking benefit of the liberal foreign investment policy of Pakistan.
The president also underlined the need for collaboration between foreign investors and local partners by forging joint ventures
At present, ExxonMobil is drilling an offshore well namely Kekra-I as part of a joint venture with Italy’s Eni, Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL).
In a meeting with Federal Minister for Petroleum Division Omar Ayub Khan on Tuesday, a delegation of ExxonMobil said they were optimistic that energy resources would be discovered at Kekra-I. The delegation was headed by ExxonMobil LNG Market Development Chairman Alex Volkov.
ExxonMobil President Irtiza Syed briefed the minister and Special Assistant to Prime Minister on Petroleum Nadeem Babar about offshore drilling, saying Eni and ExxonMobil had started work on Kekra-I in January 2019.
He revealed that ExxonMobil was interested in drilling more offshore blocks and in LNG business. Apart from this, ExxonMobil could help Pakistan in framing an environment-friendly policy for offshore drilling.
The minister said Pakistan government would provide all assistance to international investors, adding that after completion of exploration work on Kekra-I, employment would be generated.
The joint venture is drilling Kekra-I well in ultra-deep waters in the Indus-G block. The well will be drilled up to the depth of 5,660 metres and the joint venture has so far reached the depth of 4,810 metres. The drilling has entered the phase where oil and gas deposits can be estimated.
The entry of ExxonMobil into Pakistan is a positive signal for the exploration and production sector of the country. The Petroleum Division has drafted Pakistan Offshore (Exploration and Production) Rules 2019 and Model Production Sharing Agreement 2019, which will be sent to the cabinet for approval.
In a bid to woo foreign investors, the government has waived duties and taxes on the import of drilling equipment.
The ExxonMobil delegation also met President Arif Alvi at Aiwan-e-Sadr, who was briefed about the company’s ongoing and future investment projects in Pakistan.
The president appreciated ExxonMobil’s entry into the LNG business and encouraged the company to make further investment in the upstream petroleum sector by taking benefit of the liberal foreign investment policy of Pakistan.
The president also underlined the need for collaboration between foreign investors and local partners by forging joint ventures
ghazi52
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Pakistan oil and gas discovery: PM Imran raises hopes with new statement
ISLAMABAD: Prime Minister Imran Khan has once again raised hopes that Pakistan can hit major oil and gas reserves in offshore drilling.
Speaking at the PTI's 23rd foundation day ceremony, the prime minister talked about the alleged corruption of the PPP and PML-N which he said has brought the country's economy to its current state.
While he vowed to correct the course, the premier said the PTI government would offer no NRO to the opposition parties.
During his speech, the prime minister said the country was blessed with everything that is considered vital to put any country on the path to prosperity.
Apart from sharing his future plan to uplift the economy, he said he was still hopeful that Pakistan would discover major gas reserves in offshore drilling being carried out in the Arabian Sea.
He said the nation could receive a good news within two weeks. The prime minister asked the nation to offer special prayers so that the expectations attached to the drilling project come true.
Imran Khan said, if found, the gas reserves would be enough to meet Pakistan's needs for the next 50 years.
ISLAMABAD: Prime Minister Imran Khan has once again raised hopes that Pakistan can hit major oil and gas reserves in offshore drilling.
Speaking at the PTI's 23rd foundation day ceremony, the prime minister talked about the alleged corruption of the PPP and PML-N which he said has brought the country's economy to its current state.
While he vowed to correct the course, the premier said the PTI government would offer no NRO to the opposition parties.
During his speech, the prime minister said the country was blessed with everything that is considered vital to put any country on the path to prosperity.
Apart from sharing his future plan to uplift the economy, he said he was still hopeful that Pakistan would discover major gas reserves in offshore drilling being carried out in the Arabian Sea.
He said the nation could receive a good news within two weeks. The prime minister asked the nation to offer special prayers so that the expectations attached to the drilling project come true.
Imran Khan said, if found, the gas reserves would be enough to meet Pakistan's needs for the next 50 years.
Smarana Mitra
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Pakistan oil and gas discovery: PM Imran raises hopes with new statement
ISLAMABAD: Prime Minister Imran Khan has once again raised hopes that Pakistan can hit major oil and gas reserves in offshore drilling.
Speaking at the PTI's 23rd foundation day ceremony, the prime minister talked about the alleged corruption of the PPP and PML-N which he said has brought the country's economy to its current state.
While he vowed to correct the course, the premier said the PTI government would offer no NRO to the opposition parties.
During his speech, the prime minister said the country was blessed with everything that is considered vital to put any country on the path to prosperity.
Apart from sharing his future plan to uplift the economy, he said he was still hopeful that Pakistan would discover major gas reserves in offshore drilling being carried out in the Arabian Sea.
He said the nation could receive a good news within two weeks. The prime minister asked the nation to offer special prayers so that the expectations attached to the drilling project come true.
Imran Khan said, if found, the gas reserves would be enough to meet Pakistan's needs for the next 50 years.
Is it gas or oil? In this article, IK is only saying discovery of gas! Gas is not as valuable as oil. In countries like Nigeria, associated natural gas is actually flared off from oil wells due to lack of infrastructure and lack of cost effective means to use it! The offshore drilling at 5.5 kilometres is worth only if it finds oil. Otherwise it will be uneconomical
Zibago
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In Pakistan CNG infrastructure is already setup and good to go to us gas is as valuable as oil
Smarana Mitra
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Even then, gas is cheap in international market. Also, gas is used mostly for power generation and not for transport. So, gas is not as valuable as oil.
Zibago
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In Pakistan gas is used for transport
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https://www.pakistantoday.com.pk/2019/05/03/report-on-kekra-i-drilling-within-3-4-weeks-senate-told/
Federal Minister for Energy Omar Ayub Khan on Friday said that the report on any discovery of energy reserves at Kekra-I offshore drilling site will come within three to four weeks.
Speaking during the question hour in Senate, Ayub said that the offshore drilling for oil and gas has been underway at Kekra-I site near Karachi.
Replying a question the minister said the drilling has currently reached to 4,800 meters and the well will be drilled up to the total depth of 5,660 meters in ultra-deep waters.
It is to mention here that a delegation of Exxon Mobil informed Omar Ayub Khan in a recent meeting that the company was hopeful of finding energy resources at Kekra-I site.
The delegation was headed by Alex Volkov, chairman of LNG Market Development Exxon Mobil.
Exxon Mobil President Irtiza Syed briefed the minister about the status of offshore drilling at Kekra-I that started in January 2019. He added that Exxon Mobil is also interested in the drilling of more offshore blocks.
Drilling has now entered in its final phase where it will be easy to ascertain the presence of oil or gas deposits.
Recently international energy research agency Rystad Energy in a report said that the Eni-led Kekra project for oil and gas reserves in Pakistani waters is among three highly prospective wells in the world.
The research agency in its report on the prospective new discoveries of energy resources said that Kekra well in Pakistan has pre-drill prospective resource estimates of 1.5 billion barrels of oil or equivalent.
A group of multinational companies had started offshore drilling in January for exploration of oil and gas.
A major drilling ship, “Mother of All Rigs” along with three supply vessels started the drilling at the site.
The companies are drilling Kekra-1 well in Indus-G block, which is located some 280 kilometres away from the Karachi coast.
- 3-4 weeks for results
- Possibility of 1.5 bbl
- Exxon wants more drilling
Federal Minister for Energy Omar Ayub Khan on Friday said that the report on any discovery of energy reserves at Kekra-I offshore drilling site will come within three to four weeks.
Speaking during the question hour in Senate, Ayub said that the offshore drilling for oil and gas has been underway at Kekra-I site near Karachi.
Replying a question the minister said the drilling has currently reached to 4,800 meters and the well will be drilled up to the total depth of 5,660 meters in ultra-deep waters.
It is to mention here that a delegation of Exxon Mobil informed Omar Ayub Khan in a recent meeting that the company was hopeful of finding energy resources at Kekra-I site.
The delegation was headed by Alex Volkov, chairman of LNG Market Development Exxon Mobil.
Exxon Mobil President Irtiza Syed briefed the minister about the status of offshore drilling at Kekra-I that started in January 2019. He added that Exxon Mobil is also interested in the drilling of more offshore blocks.
Drilling has now entered in its final phase where it will be easy to ascertain the presence of oil or gas deposits.
Recently international energy research agency Rystad Energy in a report said that the Eni-led Kekra project for oil and gas reserves in Pakistani waters is among three highly prospective wells in the world.
The research agency in its report on the prospective new discoveries of energy resources said that Kekra well in Pakistan has pre-drill prospective resource estimates of 1.5 billion barrels of oil or equivalent.
A group of multinational companies had started offshore drilling in January for exploration of oil and gas.
A major drilling ship, “Mother of All Rigs” along with three supply vessels started the drilling at the site.
The companies are drilling Kekra-1 well in Indus-G block, which is located some 280 kilometres away from the Karachi coast.
- 3-4 weeks for results
- Possibility of 1.5 bbl
- Exxon wants more drilling
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