ISLAMABAD – All eyes are on the offshore drilling activity being carriedout by a group of four leading exploration companies at the Indus G-Blockcalled Kekra-I well some 230-km South West of the Karachi coast whereexperts expect discovery of massive gas and oil reserves.“Experts believe that there are huge hydrocarbon deposits, sufficient for25 to 30-year needs of the country if proven after evaluation of thespecimen expected to be extracted in March,” an official source privy tothe petroleum sector development told APP.He said the exploration activity, which started almost 40 days before, wascontinuing around-the-clock by a highly skilled team of over 200professionals with periodical tests of the specimen conducted after almostevery 1,000 drills. “It gives a strong indication that good news isexpected in March.”The well’s diameter is 18 to 24 inches and the companies have set thetarget depth of 5,500 feet, the official said, adding that the discoverywas anticipated to yield gas flows which could be ‘as big as Sui field,’with estimated reserves of three to eight trillion cubic feet (TCF), or25-40 percent of the country’s total gas reserves.The official said the country was in dire need of a big discovery asexisting hydrocarbon reserves were depleting fast and its reliance onimported gas and oil was increasing with each passing day.According to data of a recent study, he feared that the existing depositswould further deplete 60 percent by the year 2027 and underlined the needfor stepping up exploration activities in potential areas on war-footing.The offshore drilling was a joint venture of ENI, Exxon Mobil, Oil and GasDevelopment Company Limited and Pakistan Petroleum Limited, which was beingcarried out at estimated exploration cost of $ 75 million.
Big News soon over one of the largest ever oil and gas reserves discovery in Pakistan
