Just a month ago, drilling on the offshore Kekra-1 of Karachi was completed. But in the recent announcements, there is no hope of Gas and Oil Reserves to be found in the Karachi Sea.
The offshore drilling was done on the Indus G-Block operated by Kekra-1 took four months, and it was a Joint Venture of Multiple Companies.
However, Petroleum Officials on Saturday made this horrific announcement that there is no sight of the Oil and Gas reserves.
After seeing that no traces of oil and gas were being found, drilling at Kekra-1 stopped. The site at Kekra-1 had been drilled up to 5,560 meters and the Oil and Gas reserves were to be expected at found at 5,500 meters but there has been no sign of it.
A total of Rs. 14 Billion is spent on the project, half of which is paid by the Government of Pakistan.
This was the 17th attempt to find hydrocarbons from the Pakistani shore and once again, all in vain.
The drilling project, Kekra-1, to find the oil and gas reserves started about four months ago, through the Italian Oil firm, ENI, in collaboration with the U.S drilling company, ExxonMobil, Pakistan’s Oil and Gas Company Limited (OGDCL), and Pakistan Petroleum Limited.
Each of the participating companies had a 25% interest in the Block.
The Petroleum Official said that the same effort was done by Shell 10 years ago but their tries failed.
During the drilling, the success rate was predicted 13% but as soon as the drilling kept on going, the probability of the reserves reduced.
The drilling was done on the Karachi’s offshore 280 kilometers away from the Land.
But, the officials have noted India getting the reserves in 40 attempts and so far, we have done 17 of them.
What do you think? Are there any oil and gas reserves in the Indus G-Block or it is just a fuss to keep our hopes high?