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56 New Oil Discoveries Made Since 2013

The Ministry of Petroleum and Natural Resources is following an innovative and radical strategy to achieve self-sufficiency in oil and gas sector by stepping up local exploration and production activities.

"During the tenure of present government, 56 discoveries have been made since June 5, 2013 and 1,010 bcf (billion cubic feet) reserves of gas and 16 million US barrels reserves of oil have been discovered, while 16 findings are under evaluation," official sources in the ministry told APP.

The country, they said, was moving on a fast track towards achieving autarky in the energy sector as all-out efforts were being made to achieve the target by utilising conventional as well as non-conventional reserves like tight gas, shale gas, marginal fields and BTU (British Thermal Unit) gas.

Under these steps, additional volume of around 31,000bopd of oil and around 500mmcfd of gas had been added in the system, they added.

Elaborating the Petroleum Policy that provided incentives to oil and gas exploration companies, the sources said 46 new exploration licences covering an area of 94,608 kilometers had been granted to different exploration and production (E&P) companies.

During the period, as many as 202 wells had been spudded with enhanced monitoring of E&P activities, they said adding that around 11,284 Lkm of 2D and 8,828 Sq. Km of 3D had been acquired for seismic survey.

Commenting on the steps to overcome the shortage of natural gas, they said the ministry was importing Liquefied Natural Gas (LN), starting Turkmenistan, Afghanistan, Pakistan (TAPI),Iran and Pakistan (IP) gas pipeline projects.

They said import of LNG had already been materialized and it resulted in meeting the requirement of power and Compressed Natural Gas (CNG) sectors in Punjab to a certain extent. Suleman Gas Field (Sindh), Jhal Magsi Field (Balochistan) and Tay/Dars Gas Field (Sindh) were in the implementation process to hook them with Sui Southern Gas Company (SSGC) network, they said adding that the Pakistan Petroleum Limited would increase gas supply in the SSGC's system, the sources added.

Daily Times
Daily Times
Published on:
October 9, 2015
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