Pakistan's Tight Gas Reserves Approximately 24 TCF

Pakistan has tight gas reserves of approximately 24 TCF, and initially 100-150 MMCFD would be added depending on the success rate, Business Recorder reported.

Council of Common Interest (CCI) approved Tight Gas (Exploration & Production) Policy, 2011 that offers 40 percent higher price than the price announced in Exploration and Production Policy, 2009, with an incentive of additional 10% price if the discoveries are made within a period of two years to attract exploration companies to invest in tight gas fields.

Economic Coordination Committee (ECC) has approved Low BTU Gas Pricing Policy-2012 recently while Petroleum Policy 2009 is reviewed and Petroleum (Exploration & Production) Policy, 2012 is being promulgated shortly.

Business Recorder has said in a report that Pakistan drilled 89 exploratory wells during the last four years which has resulted in 25 gas discoveries of these, nine discoveries have already added 107.215 million cubic feet per day (MMCFD) gas to distribution network of the country.

Citing a government official the report said Ministry of Petroleum and Natural Resources expects 122.318 MMCFD gas to be added from rest of discoveries during 2012-13.

The country is also working on Shale Gas Policy to encourage the investors to exploit these reservoirs.