Breaking! Large oil, gas reserves found near Karachi: PM

[ALi Rizwan]

3. Says ENI is lead operator and rest are sleeping partners. But then how come "The ExxonMobile had to again spud the well by 1,500 meters" and "ExxonMobile was yet to go 1800 meters deep", makes ExxonMobil a sleeping partner??

That Samsung Rig belong to ENI. ExxonMobil might have deployed their Engineers but whats confirm is that they are partner in this project.

 

[The Accountant]

a poorly drafted article is one thing and being credible is another. The article may have loopholes in it but it has described the operation correctly, that is what has actually happened.


i don't know how to explain this to you guys, this is like someone explaining Aviation to me, two worlds apart......
When we are drilling a well, a volume of cutting reaches the surface, geologist analyze the cuttings and determine the formation we may be in. The presence of shale may indicate that we are in reservoir but it cannot tell you the volume of or size of the reservoir.

The well kicked, but that can be a Water Kick too, so it is important to know first that whether we encountered the Water kick or release of Hydrocarbons, what I have been told is that it was Hydrocarbon release.

lets just calm our nerves down & not jump the gun.....better bury the news into that deep well and wait for the official verdict before we all get our hopes up.

I agree, but my point is it is highly unlikely that initial report did not analyze the kick and its reason and the samples drawn from the mud at 4800 meters.

Our opinion are based on the information in public knowledge but the eprson announcing this has far more knowledge then ours.

I agree that we should have waited for the exact details but discarding the current development al togather is also not the right approach .... We are talking about 2 extreme point of view whereas we know nothing what indicators were disclosed in intial report to which IK was referring ...

 

[HammerHead081]

Shit will hit the fan if after 3 weeks it is announced that no oil has been found.

 

[Amaa'n]

According to whom??

I'm sorry but anonymous soundbites carry no weight!!

am just gona leave it here as it is, since emotions are high at the moment.....i don't expect anyone to take my words as gospel .

*peace bro *

 

[r0ck]

That Samsung Rig belong to ENI. ExxonMobil might have deployed their Engineers but whats confirm is that they are partner in this project.

They are partners yes, but sleeping partner means someone who is not involved in actual operations.

Newspiece first says that ENI is lead and rest are sleeping, but then goes on to say that ExxonMobil is also involved in actual operations.

This is contradictory. ExxonMobil can’t be sleeping partner and active partner at the same time.

 

[darksider]

Khan spoke too early and before solid verifications.
He should be not do that.its becoming like nawaz announced gold mines in chiniot.
He should stop announcing new projects and concentrate on finishing of existing project.

 

[r0ck]

am just gona leave it here as it is, since emotions are high at the moment.....i don't expect anyone to take my words as gospel .

*peace bro *

Peace to you too bro!!

 

[ALi Rizwan]

They are partners yes, but sleeping partner means someone who is not involved in actual operations.

Newspiece first says that ENI is lead and rest are sleeping, but then goes on to say that ExxonMobil is also involved in actual operations.

This is contradictory. ExxonMobil can’t be sleeping partner and active partner at the same time.

You are right. They have skill & both companies (ENI & ExxonMobil) will examine sample in their HQ. ENI as leading partner make more sense because its their RIG. Pakistani players are most likely sleeping partner.

 

[ejaz007]

That Samsung Rig belong to ENI. ExxonMobil might have deployed their Engineers but whats confirm is that they are partner in this project.

Rig belongs to Saipem. Rig name is Saipem 12000.

http://www.saipem.com/SAIPEM_en_IT/scheda/Vessels/Saipem+12000.page

Saipem does not belong to ENI.

 

[ALi Rizwan]

Rig belongs to Saipem. Rig name is Saipem 12000.

http://www.saipem.com/SAIPEM_en_IT/scheda/Vessels/Saipem+12000.page

Saipem does not belong to ENI.

You are right. Its Saipem. But ENI still own major shares in it.

 

[ejaz007]

You are right. Its Saipem. But ENI still own major shares in it.

ENI does not own Saipem:

https://www.eni.com/docs/en_IT/enicom/media/press-release/2015/10/CS_Eni_ENG_28.pdf

 

[Zibago]

Basically the article is playing with words and I suspect the aritcle is posted on behalf of share market to create a panic and get benefit from that panic ...

Geo network at its best buddy

 

[Riz]

Khan spoke too early and before solid verifications.
He should be not do that.its becoming like nawaz announced gold mines in chiniot.
He should stop announcing new projects and concentrate on finishing of existing project.

Kutta kan lay gia kuty k peechy door paro... O bhai khan na kia keh dia ? Kabhi to hosh sa bat kar lia karo... Usny kia keh dia tha kahan parha tum na link share karo zara

We can see many patwaris spreading propaganda in this thread... Stop your BS we know you all are praying God for no oil.. But sun lo sab.. Mairasion ki bad duaaon sa chaudhary nhi mara karty.. Agar mara jaty to aj tak aik chuhdry bhi zinda na hota...
And inshallah according to our PM . Reports are positive.. Inshallah

 

[farhan_9909]

Dubai: Pakistan will announce the discovery of massive oil and gas reserves in the next three weeks, said an official.

A consortium of four leading companies led by US-based ExxonMobil, which has started drilling in ultra-deep waters offshore Karachi, is likely to submit its report by April, Pakistan’s official news agency APP reported on Thursday.

The consortium has claimed it has discovered massive oil and gas reserves offshore Indus G-Block called Kekra-I some 230-km off the Karachi coast.

Gulf News earlier reported that the location of the reserves is near Iran borders. On Monday, Pakistan Prime Minister Imran Khan had also hinted at finding ‘massive’ oil reserves off the coast of Karachi.

He said he would soon share good news with the nation. He had said Pakistan would not need to import oil after the offshore reserves are found.

“Steady drilling is in progress and there are ‘good symptoms’ about the success of the project. Currently, more than 4,000 metres of vertical drilling has been completed. Drilling is under way horizontally against the target of around 5,500 metres,” the official said.

Experts believe that there are huge hydrocarbon deposits, sufficient for the country’s needs for 25 to 30 years. The energy scarce nation is anxiously waiting for good news.

What we know so far
The official said exploration activity is continuing round-the-clock by a highly skilled team of more than 200 professionals with periodical tests of specimens conducted after almost every 1,000-metre drill.

The well’s diameter is 18 to 24 inches and companies had set the target depth of 5,500 metres, the official said, adding that the discovery is anticipated to yield gas flows which could be ‘as big as Sui field’. Estimated reserves are three to eight trillion cubic feet (TCF), or 25-40 per cent of the country’s total gas reserves.

The official said the country is in dire need of a big discovery as existing hydrocarbon reserves are depleting fast and its reliance on imported gas and oil is increasing with each passing day.

How will this help Pakistan?
According to data of a recent study, existing deposits in Pakistan will further deplete 60 per cent by the year 2027. It underlined the need to step up exploration in potential areas on a war-footing.

The offshore drilling is a joint venture of ENI, Exxon Mobil, Oil and Gas Development Company Limited and Pakistan Petroleum Limited. In December 2018, Exxon Mobil had announced that it would reinvest in the Pakistani market after a gap of nearly three decades.

According to media reports, if oil deposits are discovered as expected, Pakistan will be among top 10 oil-producing countries.

https://gulfnews.com/world/asia/pak...iscovery-report-to-be-out-in-april-1.62968777

Pakistan currently meets only 15 per cent of its domestic petroleum needs with crude oil production of around 22 million tons; the other 85 per cent is met through imports.

The country is facing a huge current account deficit of up to $18 billion and is spending a substantial amount of foreign exchange reserves on import of oil. The import bill of Pakistan rose by to $12.928 billion in the July-May 2017-18 period of the last fiscal year

 

[Jaanbaz]

Sounds like bullshit to me, I'm sorry but we've been hearing about magical discoveries for a while now so pardon my cynicism.