ISLAMABAD:
In a major development, Turkmenistan has allowed Pakistan’s state-run oil and gas exploration companies – Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) – to take part in exploration activities for the export of gas under the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.
These companies would undertake exploration activities against service charges.
Speaking at a press conference here on Thursday, Prime Minister’s Adviser on Petroleum and Natural Resources Zahid Muzaffar said during a recent visit to Turkmenistan, it was decided by the countries that were part of the TAPI project to hold the next meeting of the TAPI steering committee in Islamabad in February 2015. He said Russia had also allowed OGDCL and PPL to take part in oil and gas exploration activities.
“Leading Russian oil and gas exploration and production (E&P) companies have agreed to invest in the upstream oil and gas sector of Pakistan for which modalities are being decided.”
The adviser, who is also the chairman of the board of directors of OGDCL, said Pakistan’s leading E&P company had discovered 10.6 million cubic feet per day (mmcfd) of natural gas and 21 barrels of condensate per day in Attock district.
This is the 102nd discovery of OGDCL and the company has expanded the oil and gas operations in all the four federating units of the country. OGDCL has also started work on new oil and gas projects in Balochistan.
He said following the directives of Prime Minister Nawaz Sharif the company had stepped up exploration activities. OGDCL Managing Director Mohammad Rafi said the company had planned to drill 35 oil and gas wells during the ongoing financial year and so far it had drilled six wells. On December 12, more wells would be drilled.
He said at present OGDCL had marked 31 locations for drilling and another four locations would soon be marked to accelerate the exploration work.
According to the MD, the fresh Jhand-I discovery will increase the pace of exploration in the Potohar region. Furthermore, OGDCL has sent a rig to the Kuk area of Balochsitan for drilling wells.
Published in The Express Tribune, December 5th, 2014.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ