*KARACHI: Adviser for Shipping and Ports Mehmood Molvi has said the reporton offshore drilling by multinational companies for exploration of oil andgas will be delayed by a week.*
Exxon Mobil, the world’s biggest oil and gas company, has stopped offshoredrilling for oil exploration for now, the adviser said.
He said drilling machine parts were being replaced after they hit amplerocks on the surface, hence affecting the machine.
The drilling will be resumed again in next two to three days afterreplacement of necessary parts in the equipment. Mehmood Molvi saidoffshore drilling report was due to be submitted on March 7, but it willnow be released after March 15.
A group of multinational companies had started offshore drilling at adistance of 230 kilometers from Karachi for exploration of oil and gas onJan 14.
In December 2018, Exxon Mobil had announced that it would reinvest inPakistani market after a gap of nearly three decades.
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A company’s delegation called on Prime Minister Imran Khan at the PM Houseand informed him of projects.
Pakistan, after a gap of nine years, begins offshore drilling to findestimated huge oil and gas deposits in ultra-deep waters at an estimatedcost of over $100 million.
“Pakistan has estimated nine trillion cubic feet gas deposits,” an officialsaid, adding “ExxonMobil expects oil deposits there.”
Pakistan meets around 15-20% of its energy needs through local oil and gasexploration and production, while the rest is met through expensive imports.
