*KARACHI: The Eni led drilling for exploration of oil and gas reserves inPakistani waters have achieved a major success, sources in the know of thematter claimed.*
The offshore drilling of Kekra-I project has made key progress and the workhas entered in its final phase.
The drilling work has reached to 5000 meters depth and nearing end to itstarget of 5800 meters, sources said.
Preparations being made to forward a report to the prime minister, sourcesfurther said.
Recently international energy research agency Rystad Energy in a reportsaid that the Eni’s Kekra project for oil and gas reserves in Pakistaniwaters is among three highly prospective wells in the world.
The research agency in its report on the prospective new discoveries ofenergy resources said that Kekra well in Pakistan have pre-drillprospective resource estimates of 1.5 billion barrels of oil or equivalent.
A group of multinational companies had started offshore drilling in Januaryat a distance of 230 kilometers from Karachi for exploration of oil and gas.
Read Top Stories
A major drilling ship, “Mother of All Rigs” along with three supply vesselsstarted the drilling at the site.
The companies are drilling Kekra-1 well in Indus-G block, which is locatedsome 280 kilometres away from the Karachi coast.
They would drill around 5,800 meters deep from the sea level and aretargeting to complete the spud in the next 60 days, sources earlier said.
Eni Pakistan is the operator of the block, while, Exploration andProduction Pakistan BV (EEPP) is drilling the well. Besides, Pakistan’sstate-owned Oil and Gas Development Company (OGDC) and Pakistan PetroleumLimited (PPL) are part of the joint venture. Each of the four firms have a25% participating interest in the block, officials said.
