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December 12, 2018

Growth of indigenous petroleum reserves stressed

Islamabad

December 12, 2018

Islamabad : Petroleum Minister Ghulam Sarwar Khan inaugurated the Annual Technical Conference in Islamabad here on Tuesday at a local hotel. Event is held every year by Pakistan Association of Petroleum Geoscientists and SPE Pakistan (Society of Petroleum Engineers), with the support and active participation of Oil & gas professionals and E&P businesses operating in Pakistan. Jang Group is the media partner of the event.

While speaking at the conference, Petroleum Minister, Ghulam Sarwar Khan, said that the theme of the conference “Challenges and strategies to sustain E&P growth” very rightly addresses the prevailing energy challenges the country is facing. Our country needs the sustained growth of indigenous petroleum reserves and indigenous supplies to control the huge import bill. This conference highlights the investment opportunities for international local businesses. International speakers attending the conference are very effectively sharing their knowledge and technology experiences which can improve Pakistan’s E&P industry. He said, “our government will make all out efforts to increase exploration acreage by introducing more exploration blocks in the country. We are encouraged to see that companies participated and offered winning bids for the blocks in exploration bid round that took place last month. This shows the trust of investors and their interest in future exploration licensing rounds”. He appreciated the efforts of organizers and participants and encouraged them to continue to discuss the challenges and the means and tools of sustaining exploration and production activities and ensure indigenous supplies of oil and gas continues.

Secretary Petroleum Mian Asad Hayaud Din said, “the gathering of geologists, geophysicists and petroleum engineers is always inspirational and motivating because they offer strategies and share innovative ways of finding and enhancing new petroleum reserves and production in the country. Pakistan is bestowed with huge shale gas and conventional oil & gas resources, locked up in areas of difficult access. We need high level of commitment, technology and financial resources to find and develop these natural resources. Only way to make this happen is that all stakeholders including public sector companies, private IOCs, GOP organizations all work together as a synchronized and efficient team.” He applauded the efforts of PAPG, SPE Pakistan and country’s E&P companies in organizing such activities and taking steps to enhance country’s energy security.

Dr. Saeed Khan Jadoon, Chairman ATC Conference, thanked the Minister, officials and participants and stressed that the sustaining E&P growth requires formulation of commonly agreed strategy. Oil and gas are major contributor of energy and require aggressive efforts for their search and development. For last 60 years, efforts are continuously made to explore conventional oil and gas reservoirs while unconventional reservoir are yet to be exploited. In this conference, Geo-technical Workshop (GTW) is also being organized to address new methodologies.

Dr. Nadeem Ahmad, Chairman PAPG and Technical Committee, said that over the last 10-15 years, replacing reserves and maintaining oil and gas production has remained a serious challenge for our domestic oil and gas industry. “New value” is created only through “Exploration” which is the starting point of “petroleum value chain.” Organic growth costs 2-4 times less than buying reserves or importing oil and gas. Dr. Nadeem Sadi, “Exploration-based growth does miracles for the countries in saving the foreign exchange supporting other businesses, generating the economic activities, and it spares funds to spend on unproven high-risk high-reward opportunities in under-explored remote regions. Support of state organizations is required to facilitate “access” to these territories, both operationally and in the form of incentives.

The opening and closing ceremonies and panel discussions are being joined by the ministers and officials, chief executives and petroleum professionals. Over 40 oil & gas and related businesses and more than 1500 delegates from Pakistan and abroad are participating.

In the Exhibition event, 32 booths are set up by the oil and companies and technology & other service providers. Thirty-two oral and poster presentations in five technical sessions chaired by industry’s top brains in the fields of PE and PG.

AAPG’s popular global event Geoscience Technology Workshop (GTW) has been held under PAPG but plan is to hold it next year under the global patronage of AAPG.

Five student sessions are being held in which students would present their research. Thirty-two technical presentations by the professionals are accompanied by the Full length technical papers on contemporary scientific and engineering concepts, solutions and cutting-edge technologies and workflows. These papers have been published in in the form of Technical Proceedings publication.

Two Life Time Achievement Awards were also awarded to Mr. Zaka Uddin Malik and Syed Munsif Raza who have contributed their long services to energy sector.

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