Eni to double Pakistan output in 5-6 years: Reuters

MILAN, March 18 (Reuters) - Italian oil and gas group Eni (ENI.MI) aims to double its oil and gas production in Pakistan over the next five to six years from the 56,000 barrels of oil equivalent in 2008, Chief Executive Paolo Scaroni said.

Speaking to reporters on a conference call on Wednesday, Scaroni said offshore oil and gas opportunities in Pakistan were "very promising", adding the group had "ambitious objectives".

The first offshore well in the region will be drilled in 2010, he said.

Eni said earlier on Wednesday it had signed a protocol for cooperation with Pakistan's government to develop oil and gas projects in the country.

Eni will invest around $50-70 million per year over the next few years in exploration in the country and another $50-70 million for development, Scaroni said.

For more on this article, please click on the following link: Eni to double Pakistan output in 5-6 years: Reuters

Plan for offshore oil exploration unveiled: Dawn

SINDH is the largest producer of oil and gas with 72 per cent of gas and 57 per cent of oil production in the country.

Efforts are being made to explore and exploit more onshore and offshore reserves of oil and gas in the province. The government is also planning a new hydrocarbons policy with more incentives for domestic and foreign investors.

The ministry of petroleum and natural resources has signed a number of joint exploration and production sharing agreements (EPSAs) for offshore oil exploration in the Arabian Sea touching Badin, Karachi and Thatta.

The Arabian Sea was declared as Zero Zone which comprised of Indus North, Indus X, Indus Y and Indus Z. Approximately an area of 4,170sq km was given to different multinational companies including British Petroleum (blocks U, V, and W in Indus Delta), ENI (blocks M, N and C), PETRONAS ,with partners like TOTAL 40 per cent, OMV 30 per cent, MGCL 10 per cent and subsidiary PETRONAS Carigali Pak Ltd, Tullow and OGDCL (blocks G and H.). It was claimed that an investment of $3.19 million is envisaged during the first two years of the project, but no official estimates of the blocks’ reserves have been released.

For more on this article, please click on the following link: Plan for offshore oil exploration unveiled: Dawn