E&P firms drilled 179 exploratory, 194 appraisal wells in 4 years
Pakistan witnessed an increase of around 79 percent in oil and gas exploration activities in different potential areas during the last four years of current government as compared to corresponding period of the previous government.
In its stride to achieve self-sufficiency in the energy sector, the present government took a number of initiatives which resulted in drilling of 179 exploratory wells and 194 appraisal/development wells in potential areas by different E&P companies.
“Subsequently, the Exploration and Production (E&P) companies made 98 new oil and gas discoveries with 40 percent success rate,” official sources told APP.
While, during the same period of previous government, 100 exploratory and 172 appraisal/development wells were drilled, which resulted in just 39 oil and gas discoveries.
They termed the increased number of discoveries a ‘record’ set by the present government in a short span of four years, which so far added 944 million cubic feet per day (MMCFD) gas in the transmission network across the country and added 32,343 barrels oil per day (BOPD) in the domestic production.
Answering a question, the sources informed that the government granted 46 exploration licences and 33 leases, carried out 25,568 L.km 2D and 19,478 Sq.km 3D seismic surveys, besides it made 1,073,283 meter drillings which is 52 percent higher than the last government’s tenure. Replying to another question, they said over Rs 836 billion investment had poured in E&P sector of the country during tenure of the current government.—APP