Oil, Gas and Refinery Sectors - updates

[Fatman17]

More speculation

 

[Samlee]

Today was day of offshore blocks bidding.Who got what?The only solid commitment uptil now is Turkish company in Indus c block

 

[hydrabadi_arab]

So they have just sold exploration rights and already know that the drilling will be worth 1 billion. They should have aimed higher and said 100 billion to make some members here happier.

$1bn investment in offshore drilling to find $1 trillion gas.

 

[kambhakt]

$1bn investment in offshore drilling to find $1 trillion gas.

$10 trillion actually.

 

[mythbuster]

$1bn investment in offshore drilling to find $1 trillion gas.

You probably missed the important aspect of it..,all the lead companies are Pakistanis with major shares....it shows Pakistani companies have achieved the technical skills to go for offshore drilling......money is not a problem for these companies , huge reserves and unappropriated profits .

 

[SoulSpokesman]

@mythbuster

It only shows they have the money. Technical skills is a different matter altogether.

Regards

 

[c14-Isotope]

The initial investment of $80 million in exploration licenses

$80M for exploration by four consortiums in three years. Trump's oil dream in Pakistan may come true, happy drilling.

 

[Samlee]

I Wanted To See ExxonMobil Saudi Aramco,Qatar Energy Sinopec CNOOC CNPC But Sure Whatever Works

 

[Pogic]

I Wanted To See ExxonMobil Saudi Aramco,Qatar Energy Sinopec CNOOC CNPC But Sure Whatever Works

Petrobras is most suited for Pakistan. They are the leaders in deep sea rigging and oil extraction.

 

[flameboard]

You can thank Imran Khan

https://gulfnews.com/world/asia/pakistan/pakistan-prime-minister-imran-hints-at-finding-massive-oil-reserves-1.62904011

 

[PakFactor]

$1bn investment in offshore drilling to find $1 trillion gas.

Here you go, keep the Statue of Liberty, a gift.

 

[hydrabadi_arab]

More details. from Dawn article. This is very early. Drilling will begin in phase 2 after 3 years.

"The four winning consortiums, led by OGDCL, PPL, Mari Petroleum and Prime Energy, collectively pledged about $80 million in exploration work over the initial three-year period, the energy ministry said.

Total investment could rise to between $750m and $1 billion if drilling proceeds, it added.

A total of 4,427 work units have been committed during Phase-I of the initial three-year licence period.

During Phase-I, the companies will undertake comprehensive geophysical and geological (G&G) studies, including seismic data acquisition, processing, and interpretation, to better define the hydrocarbon potential of Pakistans offshore basins. Upon completion of these studies, the Phase-II work programme will be finalised which will include drilling of exploratory wells in the prospective areas.

After the completion of G&G work and drilling planning, the energy ministry will invite global oil majors to join the next phase of offshore exploration, several of whom are already in contact with the government and local companies and are currently evaluating the available data.

Pakistan’s 300,000 square kilometre offshore zone, bordering energy-rich Oman, the United Arab Emirates and Iran, has seen just 18 wells drilled since independence in 1947, too few to fully assess its hydrocarbon potential."

 

[Owaiz]

No american company in this round. Still 17 blocks left so who knows, they may come for next round.

I both admire and laugh at your innocence.

 

[RescueRanger]

Here you go, keep the Statue of Liberty, a gift.

View attachment 157240

巴铁

 

[PakFactor]

View attachment 157259

巴铁

Lol.

Another thing is that they forgot to let us know if this drilling is Shariah-compliant. I don't want us Pakistani's to mess up our afterlife.