OGDCL denies discovering shale gas reserves in Sindh

[Clutch]

OGDCL denies discovering shale gas reserves in Sindh


By
GEO NEWS

Monday Nov 25, 2019

OGDCL says while it plans on drilling for the gas, it has not done started doing so yet. Photo: File

KARACHI: The Oil and Gas Development Company (OGDCL) on Monday denied discovering any reserves of shale gas in Sindh.

The company, in a press release, dismissed circulating media reports in this regard, calling them "factually incorrect".

It denied making any statements on the drilling or discovery of the reserves whatsoever.

The OGDCL reiterated that while it plans on drilling for shale gas in future, it has not done so yet.

The company further said that its clarification comes as it is a compliance and regulatory requirement of stock exchanges in Pakistan and London to do so amid circulation of such reports.





Correction: It had earlier been reported that OGDCL has discovered new oil and gas in Sindh during exploration of shale gas and tight oil deposits in the province. The error is regretted.

 

[Clutch]

They keep making fools of the foolish Pakistani awaam!

Wake up! ... Lol.

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OGDCL rejects reports of new shale gas discovery in Sindh
Pakistan
Web Desk
November 25, 2019
KARACHI: The Oil and Gas Development Company on Monday rejects media reports that it has discovered huge reserves of shale gas in Sindh.The company issued a press statement dismissing the media...

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KARACHI: The Oil and Gas Development Company (OGDCL) on Monday rejects media reports that it has discovered huge reserves of shale gas in Sindh.

The company issued a press statement dismissing the media reports in this regard, calling them "factually incorrect".

It denied making any statements on the drilling or discovery of the reserves whatsoever. The OGDCL reiterated that while it plans on drilling for shale gas in future, it has not done so yet.

"Recently there were some media reports regarding discovery of shale hydrocarbons by OGDCL. The information is factually incorrect as OGDCL has neither shared any information in this regard nor has the company so far drilled any shale well," it said in the statement.

"OGDCL is, however, working on a Shale Pilot Project which includes drilling of a shale well at a future date," it added.

The company further said that its clarification comes as it is a compliance and regulatory requirement of stock exchanges in Pakistan and London to do so amid circulation of such reports.

 

[ziaulislam]

They keep making fools of the foolish Pakistani awaam!

Wake up! ... Lol.

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OGDCL rejects reports of new shale gas discovery in Sindh
Pakistan
Web Desk
November 25, 2019
KARACHI: The Oil and Gas Development Company on Monday rejects media reports that it has discovered huge reserves of shale gas in Sindh.The company issued a press statement dismissing the media...

ShareNext Story >>>

KARACHI: The Oil and Gas Development Company (OGDCL) on Monday rejects media reports that it has discovered huge reserves of shale gas in Sindh.

The company issued a press statement dismissing the media reports in this regard, calling them "factually incorrect".

It denied making any statements on the drilling or discovery of the reserves whatsoever. The OGDCL reiterated that while it plans on drilling for shale gas in future, it has not done so yet.

"Recently there were some media reports regarding discovery of shale hydrocarbons by OGDCL. The information is factually incorrect as OGDCL has neither shared any information in this regard nor has the company so far drilled any shale well," it said in the statement.

"OGDCL is, however, working on a Shale Pilot Project which includes drilling of a shale well at a future date," it added.

The company further said that its clarification comes as it is a compliance and regulatory requirement of stock exchanges in Pakistan and London to do so amid circulation of such reports.

They dont it was fake news by geo..geo is well known for fake news

 

[Clutch]

They dont it was fake news by geo..geo is well known for fake news

Not just Geo... But all the foolish Pakistani fake news media...

Fact Check: OGDCL Has Not Discovered Huge Oil/Gas Reserves in Sindh

OGDCL has shut down media reports of discovering huge oil and gas reserves in Sindh.

In a notification to Pakistan Stock Exchange, the company revealed that the information circulating in the media is factually incorrect. It has neither shared any information in this regard nor has the company far drilled a shale well.



The media report said that OGDCL had found 95 trillion cubic feet (TCF) of shale gas and 14 billion stock tank barrel (BSTB) tight oil reserves, that were enough to meet the country’s requirement for the next 90 years, which turned out to be fake.

This 95 TCF amount is Pakistan’s actual shale and tight gas reserves. The oil/gas exploring company’s shares rose in early morning trading but it lost the gains after Bloomberg reported the news about the discovery being fake.

OGDC is still working on a Shale Pilot Project which includes drilling of a shale well at a future date, said the company.

The company noted that it disseminates all material information to relevant stakeholders including Pakistan Stock Exchange and London Stock Exchange as per compliance and regulatory requirements.

Therefore, the company has asked to ignore all the information that is not issued by OGDCL itself.


This idiot fake news spreader Sabir Shakir deserves to be shot for all his lies and misinformation!!... They guy is a total idiot!

 

[Jinn Baba]

What a surprise

 

[Jf Thunder]

Institutions have learnt quite a bit from the handsome PM, in taking U Turns that is

 

[GHALIB]

some people were very ecstatic on this news without confirming it .

 

[Goenitz]

some people were very ecstatic on this news without confirming it .

listen this

 

[niaz]

In the hope of finding easy riches; 'Fake' news about oil & gas is nothing new. Not long ago it was reported that more oil than Kuwait had been discovered near the Iran border. Whereas in actual fact only an agreement to drill off-shore Indus basin had been signed and the drilling ( Kekra-1) had yet even commenced.

 

[Jf Thunder]

That's good to hear, I hope they don't learn anything from fat pig ex-PM as in how to be a shameless scum and loot and plunder with both hands and feet.

they all learnt that as well
taking U Turns has now been added to the skill set

 

[RAMPAGE]

In the hope of finding easy riches; 'Fake' news about oil & gas is nothing new. Not long ago it was reported that more oil than Kuwait had been discovered near the Iran border. Whereas in actual fact only an agreement to drill off-shore Indus basin had been signed and the drilling ( Kekra-1) had yet even commenced.

This habit of looking for easy riches and free handouts and thus getting nowhere is the key lesson here. I hope the patriots here take heed.

 

[AgNoStiC MuSliM]

They keep making fools of the foolish Pakistani awaam!

Well in this case it seems that it was the media again, running speculative stories without getting an on the record official statement from OGDCL.

The last time around it was the government that should have waited for drilling to be complete before getting people’s hopes up.

 

[Last starfighter]

Geo did it again.

 

[GHALIB]

In the hope of finding easy riches; 'Fake' news about oil & gas is nothing new. Not long ago it was reported that more oil than Kuwait had been discovered near the Iran border. Whereas in actual fact only an agreement to drill off-shore Indus basin had been signed and the drilling ( Kekra-1) had yet even commenced.

that is true .