ISLAMABAD: The results of four-month offshore drilling at Indus G-Block called Kekra-I off the Karachi coast shows a good quality hydrocarbon reservoir, but unfortunately, these are water wet without any gas effect, said Petroleum Division in a statement on Sunday.
On Friday, PM’s Special Assistant on Petroleum Nadeem Babar announced that offshore drilling in Kekra-I well has been stopped owing to no oil reserves.
Amid much hype, Pakistan was hopeful of finding large oil and gas reserves in its territorial waters in the Arabian Sea.
The prime minister, on numerous occasions, said he was still hopeful that Pakistan would discover major gas reserves in offshore drilling being carried out in the Arabian Sea.
He said the nation could receive good news within two weeks.
The prime minister asked the nation to offer special prayers so that the expectations attached to the drilling project come true. Imran Khan said, if found, the gas reserves would be enough to meet Pakistan’s needs for the next 50 years.
According to former CEO of Oil and Gas Development Authority (OGDCL) Pervaiz Akmal, this would be some 14/15th off-shore oil and gas exploration well that turns out dry, after familiar wishful speculations by people at the helm of affairs.
“It’s so sad that we still continue leaping into these multi-million dollar exercises, almost blindfolded, often to facilitate lucrative businesses for multi-national and local private companies, with deep-rooted vested interests at home and abroad,” he said.
In a comment on the involvement of Exxon and other companies, he said the “idling Italian deep sea drilling rig got a lucrative business, and both ENI and Exxon would go home laughing is no secret”.
“It’s OGDCL & PPL [Pakistan Petroleum Limited] which have paid through their nose.
He said the energy blues of Pakistan would continue, both on and offshore, unless it corrects the direction and intent with utmost sincerity.
Kekra exploration, a joint venture of four oil exploration companies completed the offshore drilling process after four months on May 15.