According to a press statement issued after the meeting, Ciarrocchi said that three shale gas pilot projects are being planned in Pakistan, and wells will be drilled for the projects within 2013. He said the three projects would require approximately 1,100 new wells, in addition to the 1,850 drilled in the entire country till date, entailing an investment of nearly $10 billion.
Commenting on the development, Hussain said the new Petroleum and Exploration Policy 2012 provides investor-friendly opportunities for foreign oil and gas companies. Hussain informed Ciarrocchi that several exploration blocks have been offered for prospecting, and invited Eni to participate in the bidding process.
While chairing another meeting, Hussain said that the petroleum ministry is working on acquiring gas from various sources, including new discoveries, abandoned fields, marginal gases and flare gas. The meeting was attended by the petroleum secretary, the managing directors of the Oil and Gas Development Company and Pakistan Petroleum, the petroleum additional secretary, the director general of petroleum concessions and representatives of Pakistan Petroleum Exploration and Production Companies Association.
During the meeting, discussions were held on the criteria, zonal distribution and pricing, of gas from abandoned fields, marginal gases and flare gas. An expected 200 million cubic feet per day of natural gas is estimated to be added to existing resources from these sources.
Published in The Express Tribune, November 30th, 2012.
COMMENTS (3)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
1714024018-0/ModiLara-(1)1714024018-0-270x192.webp)
If this news is indeed true, then Pakistan would not need the Iran Pakistan pipeline. But I do not see any confirmation in international media/
Pilot projects are not of 10 billion dollars, they are more in the tune of 10 millions. I suspect, given ET's history of abysmal editorial standards, youre talking about millions, not billions. That, or you shouldnt call this a 'pilot' project...
whenever i think i am tired and need some refreshing jokes, i will read this article.. investors have not even brought 10 dollars in this collapsed economy in last 5 years. Tell me one foreign company that have set shop here? Instead many have left for good. Anyways, its dream time... .