Oil and Gas reserves have recently discovered through offshore drilling near Karachi coast at Kekra-1 after the struggle of 4 months. Four major oil exploration companies are involved in this search are ENI, Exxon Mobil, Oil and Gas Development company (OGDCL) and Pakistan Petroleum Limited (PPL). This drill test has undergone in order to check the amount of the oil and gas reserves in Kekra-1 that is 280 km away from Karachi.
According to the Ministry of Petroleum, this Drill Stem Test will soon be completed in the next three days. After completion of oil and gas exploration, a report will be generated in a week about the size of the reserves found. Sources revealed that the total quantity of oil and gas may be soon communicated after completion of the report on the particular Drill Stem test (DST).
Oil and Gas Reserves in Kekra-1
The drilling depth that has been reported is 5470m at a cost of Pakistani 14 billion Rupees. The reports unveiled that as a result of initial tests, it is estimated that around 9 trillion cubic feet of gas along with a large quantity of oil may be present in the Kekra-1.
This joint venture of four firms started the offshore drilling on 11, Jan 2019 and it was planned to be completed by the end of March. But later due to the critical issues, it was not possible to meet the timeline. However, ENI stayed determined regarding the drilling mechanism.
Sources further said that it was totally impossible to complete this drilling test in a limited time, as the waves of Karachi sea may become unfriendly by the end of May. Sea waves make the drilling ship impossible to work in the right direction.
During the drilling process, the team faced many technical difficulties which made them to spend around $100 million on the surplus steel and cement for the team. The drilling team had to change the direction of the drilling process which forced them to make extra expenditure.
On the other hand, OGDCL announced that natural gas and oil has been discovered in Tando Muhammad Khan District of Sindh. In this area, the well was drilled down to the 2676 meters to explore the 10.44 MMSCFD GAS, 120 BPD condensate.
Officials stated that in 10 days the four oil exploration firms will estimate the actual quantity of oil. Economists believe that if the estimate proved to be accurate, Pakistani oil import bill will be cut down by 6 billion U.S dollars every year.