47. Pakistan Economic Survey 2011-12 - Consultancy Services in ...
47. Pakistan Economic Survey 2011-12 - Consultancy Services in ...
47. Pakistan Economic Survey 2011-12 - Consultancy Services in ...
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EnergyTable 14.14: Oil and Gas Discoveries dur<strong>in</strong>g July-March <strong>2011</strong>-<strong>12</strong>Discovery Discovery Date Status Company Total Depth Current Production<strong>in</strong> Meters Oil Gas (Mmcfd)(BOPD)Mulaki-1 July-11 Oil & Gas United Energy 2,080.0 92.26 14.68<strong>Pakistan</strong> (UEP)Maru South-1 August-11 Gas Oil and Gas 720.0 − −DevelopmentCompany Limited(OGDCL)Hal<strong>in</strong>i-1 October-11 Oil Mari Gas Company 5,350.0 649.29 −Limited (MGCL)Z<strong>in</strong> X-1 December-11 Gas Oil and Gas 2,300.0 − −DevelopmentCompany Limited(OGDCL)Gharo-1 February-<strong>12</strong> Oil United Energy 1,334.7 501.74 0.04<strong>Pakistan</strong> (UEP)Mohano-1 February-<strong>12</strong> Oil United Energy 1,727 187.65 0.07<strong>Pakistan</strong> (UEP)Suleman-1 March-<strong>12</strong> Gas Oil and Gas 4,575 − −DevelopmentCompany Limited(OGDCL)Pir Apan-1 March-<strong>12</strong> Gas United Energy 2,155 327.28 10.6<strong>Pakistan</strong> (UEP)Total 1758.22 25.39Source: M<strong>in</strong>istry of Petroleum & Natural ResourcesThe Councils of Common Interest (CCI)approved Tight Gas (Exploration &Production) Policy, <strong>2011</strong> that offers 40 percenthigher price than the price announced <strong>in</strong>Exploration & Production Policy, 2009, withan <strong>in</strong>centive of additional 10 percent price ifthe discoveries are made with<strong>in</strong> a period of 2years to attract exploration companies to <strong>in</strong>vest<strong>in</strong> tight gas fields. Tight gas reserves areestimated at 24 trillion cubic feet. Initially 100-150 Mmcfd would be added depend<strong>in</strong>g on itssuccess rate.<strong>Economic</strong> Coord<strong>in</strong>ation Committee (ECC) hasapproved Low BTU Gas Pric<strong>in</strong>g Policy, 20<strong>12</strong>. Petroleum Policy 2009 is reviewed andPetroleum (Exploration & Production) Policy,20<strong>12</strong> is be<strong>in</strong>g promulgated shortly. The M<strong>in</strong>istry of Petroleum & NaturalResources is also work<strong>in</strong>g on Shale Gas Policyto encourage the <strong>in</strong>vestors to exploit thesereservoirs.14.4-a Oil and Gas Development CompanyLimited (OGDCL):OGDCL is the local market leader <strong>in</strong> terms ofreserves, production and acreage. It is the first<strong>Pakistan</strong>i Exploration and Production Company tolist its shares on the London Stock Exchange.Equipped with a forward look<strong>in</strong>g professionallydeveloped Bus<strong>in</strong>ess and Strategic Plan, competentprofessionals to implement the same and robustbalance sheet OGDCL is ready to take on thechallenges of an <strong>in</strong>ternationally listed company.OGDCL had spaded 7 wells (1 Exploratory /Appraisal & 6 Development wells) dur<strong>in</strong>g theperiod July to December <strong>2011</strong>. In the previous yeardur<strong>in</strong>g the correspond<strong>in</strong>g period 7 wells (2Exploratory / Appraisal & 5 Development wells)were spaded. The details of the Oil, Gas, LPG andsulphur’s production is given below:211
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