Rs 1135 mln spent in exploration research department in next eight years – Pakistan Oil & Gas sector update

Rs 1135 mln spent in exploration research department in next eight years – Pakistan Oil & Gas sector update

ISLAMABAD: It has been learnt from reliable sources that the Federal Government of Pakistan has spent around Rs. 1135 million for exploration research of oil and gas in the country during last eight years. Development division of Oil and Gas Development
Company (OGDCL) had provided the amount to the research bodies over the specified period of time. Several geological surveys and mapping projects have been conducted utilizing those funds.

A senior OGDCL official on Friday told APP that the Pakistan Basin Study Project was also carried out by OGDCOL research and development department during eight years. Pakistan’s official oil and gas regulatory body, OGDCL hired the services of different
companies to take the project to its comnpletion. These companies used the latest technology to achieve the task.

The Department is continuously conducting research and evaluation of blocks of different basins of Pakistan which are Rakhni EL, Regional Traverses Kohat, Gurgalot EL, Khajuri Dhudial E.L., Sehan R.P., Regional Traverses Fateh Jang, Latamber EL, Samandar
EL, Mianwali EL, Wali EL, Thano Beg EL, Kalchas EL, Shaan EL, Regional Traverses Mesa Kaswal, Channipul EL, Sogri EL and Rajdhani EL.

Answering a question, the official said “the government was producing 24,267 barrel of oil per day from Khyber Pakhtunkhwa province. Exploration licenses for over eleven blocks have been granted for oil and gas exploration in the province, he said and added
that additional incentives would be provided to the investors for exploration. These additional incentives would take care of extra risk taken by companies for doing business under the present security situation.”

It was further told by the officials that serious efforts have been made to put newly made discoveries on production during 2011-2013.  At present, the average daily natural gas production in the country is 4, 058 MMCFD. Khyber Pakhtunkhwa (KPK) is presently
producing about 8.89% of total gas volume of the country. So far 2.7 TCF original gas reserves have been explored in the province which is about 5% of the total original discovered recoverable gas reserves of the country.

Short URL: https://www.newspakistan.pk/?p=4200

Posted by Ahmed Tariq on Nov 21 2011. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry