Oil struck near Jhelum

[Amaa'n]

I think it's choice of oil companies to name their wells whatever they feel like. Secondly tomb of Ghauri is also situated in the same district that may also be the reason.

Basically, blocks are leased out by GoP and each block is named like Kadinwari block, Miano Block, Bhit, Badhra..... These are names of blocks and then each block is named according, Miano 1, Badhra Deep, Badra 8, etc... In thjs case Block name is Ghauri hence well was named accordingly

 

[Leader]

dekhna bhaiyo koe pipe tou nahi putt chadiya

 

[Donatello]

You guys have been in sleep mode so far. Why hasn't Pakistan exploited the massive reserves you have in natural resources in Waziristan and Balochistan even after 65 years of independence?? Pakistan could probably have been a net exporter of oil and natural gas by now!

There have been resources that have been tapped. Sui Gas field when it was discovered, was one of the biggest in the world. However, much of it has been used up. The mountains along the Afghan-Pakistan border are rich in resources like gold, copper, silver, rare earths but the exploitation is difficult due to lack of infrastructure. Back in the day many international companies were awarded contracts, but supreme court intervened. So the situation is still pending. Many Chinese firms are still prospecting and mining there, like Saindak Copper mines. However, as the situation becomes stable, more investment will follow.

We are rich in natural resources of all kind, gas, oil, coal, uranium, gold, copper etc. It's just that we need proper exploitation. OGDCL is Pakistan's biggest company for a reason.

@niaz
Sir do you have to add anything?

 

[Kompromat]

@balixd l Congrats on this one. I'm happy that its a local company. We need to expand our local expertise to ecplore offshore reserves and Shale.

 

[Shabaz Sharif]

Proud moment for me i guess because drilling contractor is my company

How much profit do you think government of Pakistan make? 5500 a day mean 2 million barrels per year. So around $200 million worth of oil. From that how much GOP gets as profit?

 

[Hyde]

22 million barrel @ 150per barrel 3.3 billion $ ..so not a major find but may get a profit of 1.5 b after investment and operation

Its always around 100 dollars per barrel. So I don't know why you felt the need to calculate it by 150

@ topic

Excellent news, really glad to hear that. Although it is not sufficient for our needs but definitely will be helpful reducing the import bill. If we can extract crude oil from this field and refine it somewhere within Punjab/Pakistan and make it usable for our purpose, it's definitely going to save a lot of money.

 

[Side-Winder]

We had hit another oil reserve you know..... called the USA, things seem to be getting back on track though.

lol

 

[Hyde]

How much profit do you think government of Pakistan make? 5500 a day mean 2 million barrels per year. So around $200 million worth of oil. From that how much GOP gets as profit?

It is not only about extracting crude oil, I am not sure about the current status of oil refineries in Pakistan but I am hopeful that adding another 5000 barrels in their installed capacity shouldn't be a great deal (I know there are 1-2 large refineries under construction) so lets suppose we are going to utlise the maximum potential of 5000 barrels a day. It's going to raise the daily domestic production from around 65,000 barrels a day to 70,000 barrels a day. Now consider our daily consumption of around 450,000 barrels a day. Not much difference isn't it?

Oh well 5000 x 100 dollars 500,000 dollars of savings per day from import bill. That's 15 million dollars a month or 180 million dollars of savings per annum. Not much but definitely helpful for poor country like Pakistan. Imagine if we can find at least 4-5 similar fields in other parts of Jhelum/Pakistan, it would be a saving of 1 billion dollars per annum so you see every little counts towards the big number

 

[Luftwaffe]

Oh well 5000 x 100 dollars 500,000 dollars of savings per day from import bill. That's 15 million dollars a month or 180 million dollars of savings per annum. Not much but definitely helpful for poor country like Pakistan. Imagine if we can find at least 4-5 similar fields in other parts of Jhelum/Pakistan, it would be a saving of 1 billion dollars per annum so you see every little counts towards the big number

Nigeria is poorer despite having large Oil Reserves that have already been explorered and are being exported yet look at their economic situation.

 

[Hyde]

Nigeria is poorer despite having large Oil Reserves that have already been explorered and are being exported yet look at their economic situation.

The demography of Nigeria is very different to us. If we had oil, imagine net savings of 14 billion dollars every year to begin with (a lot more when you see for the next year)... 0 import bill for petroleum products and no foreign exchange issues and a lot more benefits such as having no budget deficits, no need to take foreign loans and we would be building most of the mega projects from our own resources. We would be leading economy in South Asia in terms of gdp per capita and there would be far less poverty in Pakistan as compared to reality.

Lets get back to reality... Nigeria is a very corrupt nation, perhaps more corrupt than us and thanks to oil, their size of gdp is more than twice than us, 4x more exports than us, twice gdp per capita, 3x foreign reserves, trade surplus, tiny external debt as compared to us and what not. Nigeria is just a corrupt nation otherwise thanks to oil industry they have a lot of natural potential. They recently overtook South Africa to become Africa's largest economy if you know/remember?

 

[zip]

Israel has no natural resource ...no fertile land
Some times i feel what rahul said is right ..its all state of mind

 

[Hyde]

Israel has no natural resource ...no fertile land
Some times i feel what rahul said is right ..its all state of mind

The whole point of natural resources is utilization for the welfare of its people and cash which you earn from sales. Israel is 30x smaller to us in terms of population and I think 40x smaller in terms of land and see how many billions of dollars of aid she received from the whole world. It is somewhat similar to Pakistan. The people of Israel were always rich so they had enough resources to contribute towards the country. Taking no credit away for the hard work the people of Israel has done for developing their nation.

Off topic

 

[l'ingénieur]

We have a lot of natural resource fields. I don't understand why they are not being extracted and/or mined.

 

[FunkyGen]

The whole point of natural resources is utilization for the welfare of its people and cash which you earn from sales. Israel is 30x smaller to us in terms of population and I think 40x smaller in terms of land and see how many billions of dollars of aid she received from the whole world. It is somewhat similar to Pakistan. The people of Israel were always rich so they had enough resources to contribute towards the country. Taking no credit away for the hard work the people of Israel has done for developing their nation.

Off topic

Israel is a state with a motto "NEVER AGAIN", they make calculations and on the basis of that kill or eliminate subjects deemed hazardous for the state of Israel.

WE on that other hand are not so efficient, and with the 50000 figure in front of us, certainly not.

 

[Multani]

Dont worry, Inshallah, you will be hearing another good news from sindh region too... ENI with JV of OGDCL is putting in all its resources to work up a well in sindh khuzdar border, and that is expected to be another big hit.... Lets wait and watch

I hope environmental standards are kept as Jhelum is prime agricultural land as well

Israel is a state with a motto "NEVER AGAIN", they make calculations and on the basis of that kill or eliminate subjects deemed hazardous for the state of Israel.

WE on that other hand are not so efficient, and with the 50000 figure in front of us, certainly not.

you cannot compare Israel to Pakistan, a very unfair comparison. Israel is only 24,000 sq.km

we are not genocidal maniacs. Muslims have never been, Pakistan is a proof of fair and cautious conduct.

We have a lot of natural resource fields. I don't understand why they are not being extracted and/or mined.

corruption? fear? incompetence?

The whole point of natural resources is utilization for the welfare of its people and cash which you earn from sales. Israel is 30x smaller to us in terms of population and I think 40x smaller in terms of land and see how many billions of dollars of aid she received from the whole world. It is somewhat similar to Pakistan. The people of Israel were always rich so they had enough resources to contribute towards the country. Taking no credit away for the hard work the people of Israel has done for developing their nation.

Off topic

the best natural resource the country has are its human resources. And what is happening to the doctors, engineers, businessmen, and civil servants of Pakistan?

They are all leaving for North America, and Europe

Nigeria is poorer despite having large Oil Reserves that have already been explorered and are being exported yet look at their economic situation.

That is the situation with each and every African country

@balixd l Congrats on this one. I'm happy that its a local company. We need to expand our local expertise to ecplore offshore reserves and Shale.

shale is an emerging area, with the new technology