22 oil, gas discoveries made in 2 years, NA told: The News

ISLAMABAD: Minister for Petroleum and Natural Resources Syed Naveed Qamar on Monday informed the National Assembly (NA) that a total 59 onshore and offshore exploration wells were drilled in the country from January 2008 onwards.

Responding to a question during the question hour session, he said 22 oil and gas discoveries were made during the period. Out of these 18 were under appraisal, whereas four discoveries had been initially appraised having a reserve of 3.27 million barrels of oil and 404 billion cubic feet of gas.

He said the government had granted 126 exploration licenses to different companies for exploration of petroleum in Pakistan. Present indigenous production of crude oil is 66,390 barrels per day (BPD) which is processed at local refineries in Pakistan, he added. Qamar said in order to meet the demand of petroleum products, Khlifa Coastal Oil Refinery Project with a capacity of 250,000 BPD and Byco Petroleum Pakistan limited Refinery project with capacity of 115,000 BPD are proposed to be set up near Hub, Balochistan.

To another question of Qudsia Arshad, the Minister said in order to ensure that the maximum benefit of the subsidy went to the low income consumers, it was decided to allow the lower price benefit of only two preceding slabs for any particular consumer. He said that in this way, the consumers falling in first three slabs were not affected by this mechanism whereas through economic measures high gas consumption was discouraged.

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OGDC hits oil in Karak: The News

KARACHI: The Oil & Gas Development Company (OGDC), operator of Nashpa E.L., together with its joint venture partners i.e. PPL and GHPL, has discovered hydrocarbon reserves in the Lockhart Zone of recent discovery made in Nashpa 01 well located in District Karak of NWFP province.

According to a press statement, Nashpa 01 well was spuded on June 29, 2008 and drilled down to the depth of 4,384 M. Initially, one of the potential zones, middle Lockhart was tested on August 31, 2009 which flowed 3,000 bbls/day of crude oil and 9.7 mmscfd of gas.

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More oil, gas reserves found in Attock: The News

KARACHI: The efforts to discover the oil and gas reserves in the country are afoot, as more reserves of oil and gas have been found in District Attock, Geo News reported Tuesday.

According to a notice issued to Karachi Stock Exchange (KSE) by Oil and Gas Development Company Limited, the discovery was made in Well-11 in Attock.

According to preliminary research, 95 barrel of oil and 3.6 million cubic foot of gas would be acquired from this well.

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Maramzai-1 well in Pakistan shows gas, condensate: pennenergy

By an OGJ correspondent
KARACHI, Aug. 17 -- Hungary’s MOL Pakistan Oil & Gas Co. reported a discovery with the Maramzai-1 exploratory well on Tal Block in North West Frontier Province of Pakistan, saying it tested 12 MMcfd of natural gas and 430 b/d of condensate.

MOL serves as operator for the consortium holding interest in the block. Its partners are Oil & Gas Development Co. Ltd., Pakistan Petroleum Ltd., Pakistan Oilfields Ltd., and Government Holdings (Pvt.) Ltd.

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