Pakistan oil Reserves at Kekra-1 is still a mystery for the nation by the Head of Islamic Republic State of Pakistan.Prime Minister Imran Khan [who was previously a cricketer and running a charity hospital named Shaukat Khanam Cancer Hospital in Lahore Pakistan] was exceptionally hopeful about finding oil and gas reserves in the country’s territorial waters in the Arabian Sea.
Four months back, Mr. Khan stated in a press conference that Pakistan might hit oil and gas reserves jackpot.
The offshore piercing was extra-ordinary celebrated. Sweets all across the country weredistributed. It was considered as the biggest achievement by the state government.
It was mocked on social media that previous government [which was not yet proved corrupt by so-called opponents] hid natural resources and the current government disclosed that secret to the world.
Nearly 17 attempts were made like Sultan Mehmood Gaznavis.
The news went viral on social media and all of sudden American fleet approached there and then Minister on Petroleum Nadeem Babar announced, “The offshore drilling in Kekra-1 doesn’t yield desired results.”
The machinists of the well had decided to wad in upcoming days.
A senior official of the petroleum division said that after drilling more than 5,500 metres assets were not found. About $100 million had been financed in that venture which was a big loss on the current economic situation of Pakistan.
The officials said, “Oil and gas E&P is described as a ‘high risk-high reward’ business and the failures should not be taken as a loss. India found offshores reserves from its ‘Bombay High well’ after 40 attempts.”
In the reply of his statement a senior analyst Muhammad Hanif said, “If India find it, it doesn’t mean we will also find it. We should look at our economic situation and inflation in the state.”
“India also invested in technology like China. We didn’t even try to follow them,” he added.
Furthermore, the four partners were Exxon Mobil of the US [the world largest oil and gas firms], Pakistan Petroleum Limited and Oil and Gas Development Company Limited [OGDCL].
Based on evidences OGDCL spokesman Ahmed Lak said, “Among the highest prospects of finding the hydrocarbon reserve is 20 per cent, therefore, our record was good enough to precede with drilling.”
However, the last offshore drill action was led by Dutch E&P firm Shell in 2005 was also a disappointment.
Mr Lak said, “Pakistan should continue its efforts to find hydrocarbon reserves because there was a large area where reserves had been predicted by experts.”
“US firm ExxonMobile has become a working partner in the block only because of encouraging data,” he added,“Since Indus is an ancient river with a large basin, experts do not contest the views there is a huge pocket of hydrocarbon reserve in the Arabian Sea off Sindh.”
“Because the well remained dry, now it will be plugged and abandoned,” said Mr Lak.