*ISLAMABAD: *Quoting a recent study about the fast depleting hydrocarbonreservoirs in the country, a senior official privy to the petroleum sectorfeared that the deposits would deplete by 60pc by the year 2027.
Talking to APP on Tuesday, the official underlined the need to accelerateexploration activities in the potential areas on a war footing, saying,“The country’s energy demand is increasing and local production isdecreasing with each passing day.”
In order to make the country self-sufficient in the energy sector, he saidthe Petroleum Division is planning to hold open bidding for 20 more oil andgas exploration blocks by the end of this year.
The Pakistan Tehreek-e-Insaf (PTI) government, during its first year inpower, had awarded five new exploration blocks through a transparentbidding process.
As per the official, the government is also preparing a summary with regardto the exploration of new oil and gas blocks in potential areas oferstwhile Federally Administered Tribal Areas (FATA) and Balochistan. Thesummary would be presented before the Council of Common Interests forapproval, he added.
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Explaining the existing exploration licencing zones, he said the country inthis regard has been divided into four zones, consisting of WestBalochistan-Pishin-Potowar Basins; Kirthar, East Balochistan-Punjabplatform-Suleman Basins; Lower Indus Basins; and Indus & Makran Basins.
On a question, the official said currently the country’s total sedimentaryarea is around 827,268 square kilometres, out of which 320,741km or 39pc ofthe area is under exploration.
