Pakistan Made 73 Oil, Gas Discoveries in Last Three Years

A total of 73 oil and gas discoveries were made in Pakistan during the last three years.

Since June 5, 2013 energy companies have spudded 271 wells and made 73 oil and gas discoveries, oil ministry sources have told Daily Times, a Pakistani newspaper. Apart from enhanced monitoring of E&P activities, the government has acquired substantial amounts of 2D and 3D survey data.

The sources told the newspaper that during the last three years, 46 new exploration licences, which covered an area of 94,608.85 sq. km, have been awarded to accelerate the exploration activities.

The government is also focusing on unconventional resources like tight gas, shale gas and low BTU gas. It wants more private players, both domestic and international, to take part in exploitation of local oil and gas reserves.

However, the government accepts that role of imported LNG will be very important in meeting domestic gas demand. Country’s gas production is hovering around 4 bcfd, while total demand has reached 8 bcfd and the gap is being partly bridged by imported LNG primarily from Qatar. Last week oil minister Shahid Khaqan Abbasi stated that LNG was short, medium and long term solution for gas crisis in Pakistan.