ISLAMABAD – Minister for Petroleum Division Omar Ayub Khan Monday said thePetroleum Division of the Energy Ministry was going to initiate athree-round bidding process to award 40 new oil and gas exploration blocks.
He made these remarks during the question hour session in response tomember National Assembly (MNA) Shamim Ara Panhwar for the quantum ofreserves of gas and oil expected to be discovered from sea.
The bidding would be completed in 12 months and would help attract foreigninvestment in the country, he said.
Omar said the awards will be issued for various sites across the country.The hit drilling ratio or the success rate of oil and gas well drilling is1:3.”
KEKRA-I, he said was not a failure rather it was 2,000 meters drilling inwater and 5,000m in soil whereas the pressure kick was of water. Theproject failed because it was not exact science rather a persistent processof experimentation to gain desired output, he added.
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To a question by MNA Muhammad Hashim on total number of oil and gas wellsbeing drilled in Balochistan, the minister responded that since 1963 to2019 almost 18 wells had been drilled across the province.
To another question by MNA Mehboob Shah, he said a total of 33 renewableenergy (RE) projects with a cumulative capacity of 1,716.97 MW weredeveloped during the tenure of the last two governments.
