ISLAMABAD – Pakistan Petroleum Limited (PPL) Managing Director has revealedthat Prime Minister Imran Khan was misinformed about the presence of oiland gas reserves at Kekra-I, along the coast of Karachi.
There was an 86% chance that there would be no oil under the surface of thesea, however, the information from the project is expected to help infurther exploration in shallow water near the Karachi coastline in thefuture.
There were only 12% chances of the project’s success, the officialmaintained.
Talking at PPL’s 68th annual general meeting, the MD of PPL told the mediathat the drilling work will now be carried out in shallow water as it wouldcost less with a greater chance of success.
In Kekra-I, we found nothing but water after digging deep inside thesurface. However, there are chances of vast resources of oil and gasunderneath the shallow water of Indus Block and the PPL will administerdrilling in the site in future.
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The drilling and machinery cost of the project was Rs 124 billion. EI,Exxon, OGDCL, and PPL will split the cost incurred in the Kekra-I project.
Meanwhile, the new project is expected to discover massive reserves nearKarachi’s coastline.
