ISLAMABAD: Ghulam Sarwar Khan, Federal Minister for Petroleum met Mr. Irtiza Syed, CEO, EXXON Mobil on Wednesday at his office.
Irtiza briefed minister about progress at Indus G Block.
According to a press release issued by the petroleum ministry, Ghulam Sarwar Khan said 2019 will be good year for all of us. Exxon Mobil has started spud in.
The well’s diameter is 18 to 24 inches. Right now they are at depth of 1900 feet, hence its ultra-deep exploration. It will give its first good news in March or April.
Exxon Mobil has given the target depth of 5500 feet. In March, Exxon Mobil will send a specimen to Houston for examination.
Similarly ENI will send the specimen to Milan in March. From April to May there will be a reasonable idea that this well contains oil or gas.
The discovery is anticipated to yield gas flows which can be as big as Sui field, with estimated reserves of 3 to 8 trillion cubic feet (TCF), or 25-40 percent of Pakistan’s total gas reserves.
Pakistan Exploration and Production (E&P) companies along with international partners have ventured into offshore territory of underexplored but promising Indus G Block for deep sea drilling endeavor.
The operator of the block, ENI has chartered, Saipem, a rig ship to drill the exploration well , located 230 kms South West of Karachi. ENI is an Italian company working in Pakistan since 2000.
This endeavor is a joint venture (JV) formed by ENI, Exxon Mobil, OGDCL and PPL to spud Kekra I exploration well in Indus G Block.
The exploration cost is estimated at 75 million dollars. Right now more than 200 people are working at the ship. After exploration, employment will be generated. If it will be a successful discovery, then for next 25 to 30 years, Pakistan can use this gas.
After its success, Exxon Mobil will spud in more wells. Till 2021 to 2022, a facility will be made here. Ghulam Sarwar Khan also invited Exxon Mobil for on shore exploration. He said that he will make ways easy for international investment.
For this purpose duties and taxes have been waived off on import of drilling equipment. During meeting, Stephen, Vice President, Exxon Mobil was also present.