Oil Exploration in Pakistan: Huge success reported by sources

Oil Exploration in Pakistan: Huge success reported by sources

*KARACHI: The Eni led drilling for exploration of oil and gas reserves in Pakistani waters have achieved a major success, sources in the know of the matter claimed.*

The ARY News quoting the sources reported that the offshore drilling of Kekra-I project has made key progress and the work has entered in its final phase.

The drilling work has reached to 5000 meters depth and nearing end to its target of 5800 meters, sources said.

Preparations being made to forward a report to the prime minister, sources further said.

Recently international energy research agency Rystad Energy in a report said that the Eni’s Kekra project for oil and gas reserves in Pakistani waters is among three highly prospective wells in the world.

The research agency in its report on the prospective new discoveries of energy resources said that Kekra well in Pakistan have pre-drill prospective resource estimates of 1.5 billion barrels of oil or equivalent.

A group of multinational companies had started offshore drilling in January at a distance of 230 kilometers from Karachi for exploration of oil and gas.

A major drilling ship, “Mother of All Rigs” along with three supply vessels started the drilling at the site.

The companies are drilling Kekra-1 well in Indus-G block, which is located some 280 kilometres away from the Karachi coast.

They would drill around 5,800 meters deep from the sea level and are targeting to complete the spud in the next 60 days, sources earlier said.

Eni Pakistan is the operator of the block, while, Exploration and Production Pakistan BV (EEPP) is drilling the well. Besides, Pakistan’s state-owned Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) are part of the joint venture. Each of the four firms have a 25% participating interest in the block, officials said.