Pakistan is optimistic about discovering oil and gas reserves at Kekra-1. According to official drilling in the ultra-deep waters, offshore Karachi at Kekra-1 has reached a climax.
The Special Assistant to the Prime Minister for Petroleum Nadeem Babar said, “There is an optimistic prospect of finding energy resources at Kekra-1.”
He revealed this while talking to a delegation headed by the chairman of Liquefied Natural Gas (LNG) Market Development at Exxon Mobil Alex Volkov.
A consortium consisting of Italian ENI, Oil, and Gas Development Company and Pakistan Petroleum Limited, led by the by US oil and gas company Exxon Mobil offshore drilling is being conducted at the block.
On 13th January 2019, this joint ventured led to the drilling of an exploratory well, Kekra-1. It will be drilled to the depth of 5,660 meters. It is presently at 4,810 meters.
The official statement said, “Drilling has been entered in the phase where it will be easy to estimate that there is any oil or gas.”
The Minister for Petroleum Omar Ayub Khan revealed that all assistance will be given by the government to the international investment. The government said that it will defend any kind of free and safe investment in Pakistan. Furthermore, the minister said that after the exploration, employment opportunities will also open up.
President of Exxon Mobil Irtiza Syed said that Exxon Mobil wants to drill more offshore blocks and bring in LNG imports in Pakistan.
The Oil and Gas Regulatory Authority (Ogra) said that gap in supply and demand will increase.
Adding, “The possible gap would be bridged through enhancement in indigenous gas exploration and production through incentivizing the sector, import of interstate natural gas through development of cross-country gas pipelines – and increased import of liquefied natural gas.”