Massive Oil Discovery in Pakistan: Hype vs Reality

[RiazHaq]

http://www.riazhaq.com/2019/05/massive-oil-discovery-in-pakistan-hype.html

Prime Minister Imran Khan has recently raised Pakistanis' hopes of ExxonMobil and ENI being on the verge of a massive discovery of offshore oil and gas reserves in Pakistan. Is this real? Or mostly hype? What is the size of these reserves? Will it be more than sufficient to meet Pakistan's current needs of over 200 million barrels of oil per year? Will Pakistan become a net exporter of oil and gas like major OPEC nations?


Top 3 Offshore Drilling Sites in Asia-Pacific. Source: Bloomberg


Why is it taking so long to get confirmation from the companies involved? What are the technical issues in getting confirmation of these huge reserves? Why is there such a big concern about blow-out? Is it because the 1.5 billion barrels pre-drill estimate of Kekra-1 well in block G of the Indus basin off the Karachi coast? Could such a large reserve cause a major blow-out accident like the one British Petroleum had in Gulf of Mexico near Louisiana in the United States? How long will it take to fix the blow-out preventer (BOP) and complete drilling of the remaining 600-800 meters of the total depth of over 5,500 meters deep in the Arabian Sea?



Offshore Blowout Preventer Stack. Courtesy: British Petroleum

Azad Labon Kay Sath host Faraz Darvesh discusses these questions with Misbah Azam and Riaz Haq (www.riazhaq.com)

Related Links:

Haq's Musings

South Asia Investor Review

Pakistan's Insatiable Appetite For Energy

US EIA Estimates of Oil and Gas in Pakistan

Pakistan's Debt Crisis

Can Pakistan Avoid Recurring IMF Bailouts?

Pakistan is the 3rd Fastest Growing Trillion Dollar Economy

CPEC Financing: Is China Ripping Off Pakistan?

Information Tech Jobs Moving From India to Pakistan

Methane Hydrate Release After Balochistan Quake

Thar Coal Development

Why Blackouts and Bailouts in Energy-Rich Pakistan?

Riaz Haq's Youtube Channel

PakAlumni Social Network

http://www.riazhaq.com/2019/05/massive-oil-discovery-in-pakistan-hype.html

 

[Samlee]

PM IK Yesterday Said The Next Two Weeks Some Good News Is Coming

 

[war&peace]

This is definitely real since a consortium of giants is investing 100's of millions of dollars in the deep sea drilling, I don't think anyone would be risking such a huge amount and taking an onerous task of deep sea drilling in Pakistani sea which is one of the toughest job on the planet.

Critics and nay-sayers, if still it does not make sense to you then go to any rich guy in your neighbourhood and ask him to invest only $10000 in your project and you will realise it is not that easy.

But I'll reiterate, IK should have not said it until confirmed...

 

[AZ1]

This is definitely real since a consortium of giants is investing 100's of millions of dollars in the deep sea drilling, I don't think anyone would be risking such a huge amount and taking an onerous task of deep sea drilling in Pakistani sea which is one of the toughest job on the planet.

Critics and nay-sayers, if still it does not make sense to you then go to any rich guy in your neighbourhood and ask him to invest only $10000 in your project and you will realise it is not that easy.

But I'll reiterate, IK should have not said it until confirmed...

Exxon mobile chairman is in islamabad and i heard he will.be briefing IK on drilling or already done that so let's hope and pray.

 

[Baz]

What is worrying is the aftermath of this discovery. Pak should have a big stick up the arse of Exxon and make sure there is no ulterior motives. think venezuela

 

[doorstar]

if all goes well with this (and looming NATO action) Balochistan/Makran is next

 

[Khan_patriot]

if all goes well with this (and looming NATO action) Balochistan/Makran is next

What does NATO have to do with this.

 

[CrazyZ]

Circumstantial evidence points to some sort of hydrocarbon discovery. Wait and see. We have many other untapped sources of energy. Coal, hydro, shale oil/gas, wind, solar, biomass and potentially off shore hydrocarbons. We are the only country in S asia that can potentially produce energy at per capita mid to high income levels with our indigenous resources.

 

[war&peace]

Exxon mobile chairman is in islamabad and i heard he will.be briefing IK on drilling or already done that so let's hope and pray.

Bro, I pray .... let's say InshaAllah.

 

[Pakistani Fighter]

This is definitely real since a consortium of giants is investing 100's of millions of dollars in the deep sea drilling, I don't think anyone would be risking such a huge amount and taking an onerous task of deep sea drilling in Pakistani sea which is one of the toughest job on the planet.

Critics and nay-sayers, if still it does not make sense to you then go to any rich guy in your neighbourhood and ask him to invest only $10000 in your project and you will realise it is not that easy.

But I'll reiterate, IK should have not said it until confirmed...

Niazi is a pathological liar. You will see how he will take U Turn

 

[war&peace]

Niazi is a pathological liar. You will see how he will take U Turn

who Niazi?

 

[zulu]

Inshaallah

Bro, I pray .... let's say InshaAllah.

 

[BHarwana]

Exxon Mobil is going to do further drilling on more Wells.

 

[zulu]

IF any oil discovered Inshaallah tu faida IK ka yah sary Pakistan ka hoga ???? really pathetic jab loog sirf apny political difference settle karny main Pakistan ka,uss ky aam logon ka faida bhol jaaty hain really pathetic

Niazi is a pathological liar. You will see how he will take U Turn

 

[doorstar]

What does NATO have to do with this.

it believes that it needs to nip any future threats to itself (or to its dominance in that area or any other place) in the bud

https://defence.pk/pdf/posts/11421128/

who Niazi?

PM's tribe, do you ever wonder how and why this anti-Pakistan account has survived here since 2011?