New oil reserves discovered in Sindh

[Edevelop]

Karachi- New oil reserves have been discovered at Tando Allah Yar in Sindh province.
Oil and Gas Development Corporation Limited (OGDCL) discovered oil from Jarwar well number one in NIM Block. The discovery will add to the hydrocarbon reserves base of the country. This is the second OGDCL oil discovery within the short span of two months as the previous one was discovered in district Attock in September.

New oil reserves discovered in Sindh

 

[Bilal.]

What's the production capacity?

 

[karakoram]

Good news but how will we know the capacity of that well ?

 

[Kompromat]

Looks like the oil & gas drive is going well.

 

[Kloitra]

What's the production capacity?

OGDCL discovers new oil reserves in Tando Allahyar oil filed | The News Tribe

He said that as per initial report, production from the new reserves was estimated to be 480 barrels per day.

Is this a mistake? 480 barrels per day looks too little.

 

[DESERT FIGHTER]

sindhis in audis?

 

[VCheng]

OGDCL discovers new oil reserves in Tando Allahyar oil filed | The News Tribe


Is this a mistake? 480 barrels per day looks too little.

Too little? No. The drive to find oil is "going well".

 

[Bilal.]

OGDCL discovers new oil reserves in Tando Allahyar oil filed | The News Tribe


Is this a mistake? 480 barrels per day looks too little.

Yes its little but still amounts to $14 millions in foriegn exchange saving @ $80/barrel...

 

[niaz]

OGDCL discovers new oil reserves in Tando Allahyar oil filed | The News Tribe


Is this a mistake? 480 barrels per day looks too little.

It is indeed very little, at $30 per bbl such a small well would not be economic. However at $80 per bbl it is commercially viable. Details are very sketchy, from what I read about, it appears to be a gas rich oil field or condensate rich gas field. In any case, it is better than a dry well.

Most Pakistani oil bearing structures are small and any well producing in excess of 1000 bbls per day is considered good. Let us hope we find another 50 such structures.

 

[enquencher]

These reserves don't seem commercially viable...Coz it is costly to extract .process and maintain those wells

 

[niaz]

These reserves don't seem commercially viable...Coz it is costly to extract .process and maintain those wells

Hon sir,

I did mention in my earlier post that at $30 per bbl. oil, this field would be uneconomic. Not so at current prices. Here is an excerpt from US Energy Information Administration.

Quote

Costs for Producing Crude Oil and Natural Gas, 2007–2009
2009 Dollars per Barrel of Oil Equivalent

Lifting Costs Finding Costs Total Upstream Costs
United States – Average $12.18 $21.58 $33.76
On-shore $12.73 $18.65 $31.38
Off-shore $10.09 $41.51 $51.60

All Other Countries –Average $9.95 $15.13 $25.08
Canada $12.69 $12.07 $24.76
Africa $10.31 $35.01 $45.32
Middle East $9.89 $6.99 $16.88
Central & South America $6.21 $20.43 $26.64

Unquote

Recently I came across an article about the declining production in the conventional oil fields. Understand Bakken field in North Dakota (discovered in 1951) mean oil production per working oil well is down to 400 bbl/day. The filed in question may be small but it is viable at current oil price levels.

 

[VCheng]

Recently I came across an article about the declining production in the conventional oil fields. Understand Bakken field in North Dakota (discovered in 1951) mean oil production per working oil well is down to 400 bbl/day. The filed in question may be small but it is viable at current oil price levels.

Sir, a field may be viable at low production levels only if it has previously delivered much larger volumes to justify developing it in the first place. As productivity tapers off, the existing machinery is enough to keep it viable without additional development. Trying to initially develop a well with a peak output of 400 bbl per day may be a nonviable scenario.

 

[Kompromat]

Too little? No. The drive to find oil is "going well".

You need to tone down your cheap sarcastic shots.

Pakistan Oil production surges to 100,000 barrels per day

 

[KingMamba]

Too little? No. The drive to find oil is "going well".

Forever pessimistic should be an official slogan of yours.

 

[VCheng]

You need to tone down your cheap sarcastic shots.

Pakistan Oil production surges to 100,000 barrels per day

What sarcasm Sir? I was agreeing with you. Now the figure would be 100,480 barrels per day, a great achievement, no doubt. Production is increasing indeed, which is the correct direction. I am sure you can agree with this statement.