Albatross
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The United Energy Pakistan (UEP) Limited, which has got No Objection Certificate, is to start 3-D seismic survey to explore offshore oil and gas reservoirs in Pakistani sea. According to sources in Petroleum Ministry, the government has allowed United Energy to initiate offshore survey in three blocks and to start the activity. A ship with relevant equipment has reached Karachi port.
Sources said the government has notified Petroleum (Exploration and Production) Policy 2012 which offers a maximum price of $6.5 per million British Thermal Units (mmbtu) for onshore and a maximum of $9 per mmbtu for offshore oil and gas discoveries. In offshore, 14 exploration licenses have been awarded for oil and gas. Efforts were being made to enhance exploration activities in all the areas of Pakistan by improving law and order situation while providing conducive environment to local as well as foreign E&P companies.
Basin study had already been carried out to correlate entire data of different basins, which would help identify new play types. Efforts were being made on more exploration in deeper prospects and under explored geological frontiers to add new oil and gas reservoirs. In addition, 'Shale Gas, Marginal and Stranded Gas and Flare Gas Guidelines 2012' were being prepared to exploit the hydrocarbon potential to alleviate shortage of energy being faced by the country.
The petroleum policy also offers lucrative incentives to investors in exploration of oil and gas sectors of Pakistan. The Economic Co-ordination Committee (ECC) had approved Low British Thermal Unit Gas Pricing Policy, 2012 wherein additional incentives to the investors have been given to develop Low BTU fields as soon as possible.
Offshore oil, gas reservoirs: UEP to begin 3-D seismic survey | Business Recorder
