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Latest news about Oil Gas possible discovery

May Allah bless Pakistan with abundant oil and gas ameen. Saying that i have invested in global oil company shares in the past. Extracting oil and gas is a very tricky business even if you have proven reserves. Sometimes the cement casings have issues and you have to go for a side track. Sometimes knowing the correct drilling mud becomes an issue.Fracture pressure can be exceeded by drilling through the formation using a high mud weight that can exert high hydrostatic pressure. There are multitude of other issues.
Economics also comes into focus. I still pray the drill will come good the probability is always in the lower side unless they can afford a few more in the vicinity.
 
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Pakistan’s new oil tanker arrives at Karachi port

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KARACHI: MT Khairpur, the new oil tanker acquired by Pakistan National Shipping Company (PNSC), has reached Karachi port, bringing the number of oil cargo vessels in the company's fleet to six, a statement said on Saturday.

The PNSC said the South-Korean-made ship, known as a clean product tanker, having a capacity of 75,000 DWT (LR-1 category), was built in 2012, then reconditioned and upgraded in accordance with the requirements of the national shipping company.

Speaking after the inspection of the vessel, Federal Minister for Maritime Affairs Ali Zaidi said another oil tanker had been added into PNSC’s fleet and it would provide relief in the freight Pakistan had to pay for oil imports.

Zaidi said exploration and drilling activities in the sea were on and a depth of 5392 meters had already been reached. “Confirmed details regarding oil and gas reserves would be received within two weeks,” the minister added.

The minister said Pakistan had to repay $9.09 billion this year, while a sum of $27 billion had to be repaid in next two years. “PTI (Pakistan Tehreek-e-Insaf) government only approached (IMF) International Monetary Fund so that loans taken by previous governments could be repaid,” Zaidi said.

He further said the government could not provide relief in the rates of electricity and gas, as this would compel the government to take more loans. Talking about the circular debt, the minister said the issue would be resolved by 2022.
 
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Four oil firms complete offshore drilling near Karachi coast
Source: Xinhua| 2019-05-14 22:21:47|
Editor: xuxin
http://www.xinhuanet.com/english/2019-05/14/c_138058229.htm

ISLAMABAD, May 14 (Xinhua) -- A consortium of four major oil exploration companies has completed the offshore drilling process near the southern port city of Karachi in Pakistan after a hard work of four months.

According to the local media reports on Tuesday, ExxonMobil, ENI, Oil and Gas Development Company, and Pakistan Petroleum Limited are conducting the drill stem test to determine the real size of the oil and gas reserves in the Kekra-1 well, located around 280 km away from Karachi.

The joint venture of four oil giants spudded the Kekra-1 well to the depth of 5,470 m at a cost of 14 billion Pakistani rupees.

According to the officials in the Ministry of Petroleum, the Drill Stem Test would be completed in the next three days. After the completion of the Drill Stem Test, a report will be prepared about the total quantity of the oil and gas reserves within a week.

They further stated that the initial tests had estimated the availability of around 9 trillion cubic feet of gas with a large quantity of oil in the Kekra-1 well, which had excited the nation, including Prime Minister Imran Khan who openly spoke about it on numerous occasions.

The four-firm joint venture had started the offshore drilling process on Jan. 11, 2019, which was expected to be completed by March. However, the process was delayed by critical issues, but ENI stayed committed to the completion of the offshore drilling.

The technical problems during the offshore drilling forced the drilling team to spend an additional 100 million U.S. dollars to procure surplus steel and cement because the team had to change the direction of the drilling process of the Kekra-1 well.

The Petroleum Ministry officials informed the local media that changing the direction of the drilling was a challenging task because the joint venture was running out of time to complete the drilling process as sea waves generally become unstable by the end of May. The stability of a drilling ship by the end of May would have been quite a daunting task, they added.

They informed that within the next 10 days, the joint venture team would be able to determine the actual size of the oil and gas discovery. According to senior officials of the Petroleum Ministry, the necessary infrastructure would be erected in the sea for oil and gas exploration only if the price of total reservoir quantity was worth more than 10 billion U.S. dollars.

The economic experts believe that if the four major oil exploration companies are able to find the reservoir quantity according to the estimates, it would cut down Pakistan's oil import bill by 6 billion U.S. dollars every year.
 
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to procure surplus steel and cement because the team had to change the direction of the drilling process of the Kekra-1 well..???

Procure steel and cement??
 
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I hope we find both oil and a gas reserve. I am more interested in oil than natural gas.
But whatever the outcome the earliest we can see the field working would be after or around the end of the new imf program.
In order to reach that stage in future in a healthier position we need tough fiscal and governance reforms now. The little balance of payment that we get out of this find will otherwise diminish or delay the urgency of the much needed reforms
 
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Kekra-1 well in deep sea: 150 metres more drilling required to find reservoir

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ISLAMABAD: After reaching the required depth of 5,474 metres in deep sea at Kekra-1 in G-bloc, ENI, the operator, still needs to go 150 metres more deeper and it will take two days more. After that there will be testing process to know what the reservoir factually has, either gas or oil or both and at what quantum. It will take at least one week more, Special Assistant to Prime Minister on Petroleum Nadeem Babar told The News.

After going down 150 metres more, the Drill Stem Test (DST) is to start that will provide the information or data telling what exactly lies in the reservoir. The DST by definition is a temporary completion of a well bore that provides information on whether or not to complete the well. The zone in question is sealed off from the rest of the well bore by packers and the formations’ pressure and fluids are measured.

However, the other senior official told that there are positive indications of gas shows,but more drilling is required for more tests that include DST. The official said DST is part of drilling too. “The joint venture headed by ENI is operator comprising Exxon Mobile, OGDCL and PPL started the drilling on January 13, 2019 at the cost of sunk money of $75 million which has increased to over $100 million so far.”

To a question, the official said that at this stage a substantial amount of information regarding the well prospects will be known, however, the results (discovery or dry well) will require completion of proper testing.

The last snag hit the drilling when the blowout preventer (BOP) that prevents from any blowout or any kick pressure that can result into eruption of fire, had gone out of order and its repair took some days and then its testing took reasonable time.

Before it, the drilling stopped on April 8 because of the cementation and casing continued owing to which the drilling could not start. To a question, blowout preventer is now 100 percent fit for performing and to this effect one week testation remained underway.

So far the drilling witnessed many upheavals starting from January 2019 up till now and it has got delayed by one month as it was earlier scheduled to get completed by April end which is now rescheduled up to the third week of May at the maximum.

The drilling was initiated with 19 percent probabilities which, according to experts, get reduced when side tracking starts taking place. Earlier, when at Kekra well, vertical drilling reached at depth of 4,799 meters on February 21, high pressure was felt causing huge mud loss and because of unsafe operation the well was plugged by March 23. Then the first side tracking started and when it reached down to 3,100 meters, it again met failure, which is why the hole was also blocked. After that, the second side tracking began and the drilling reached at the required depth.
 
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Oil and gas reserves discovered in Pakistan | Sabir Shakir Analysis

 
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Minister for Maritime Affairs, Ali zaidi has said These all talks on media are speculations and Drilling has not been finished yet.
 
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Minister for Maritime Affairs, Ali zaidi has said These all talks on media are speculations and Drilling has not been finished yet.
that's because he visited the site on friday and news came out on monday or tuesday.

He is talking when he visited on friday. So these new news is new development which he is not aware of and he is also saying 1 week time so does the media.
 
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If there is any discovery there announcement we an expect 27th of ramadan or before In Shaa ALLAH
 
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