New discovery at Dera Bugti by Oil and Gas Development Company Limited new petroleum policy to substantially facilitate investors: Dr. Asim
Islamabad, December 21, 2012 (PPI-OT): Oil and Gas Development Company Limited (OGDCL), operator of Zin Exploration license, together with joint venture partner Government Holdings Pvt. Ltd (GHPL) has discovered gas reservoir bearing zone from its well Zin SML-I located in District Dera Bugti of Balochistan. This was informed by MD OGDCL who called on Dr. Asim Hussain Advisor to the Prime Minister on Petroleum and Natural Resources today.
Dr. Asim Hussain while congratulating the OGDCL and GHPL, said that the Government is providing substantial incentives to the oil and gas exploration companies. He further said that successful road shows were held in USA and UK to attract foreign oil and gas exploration companies. Dr. Asim Hussain emphasized on balancing the current energy mix of Pakistan, which is heavily dependent on Natural Gas.
It is worth mentioning that the Zin SML-I well was drilled down to depth of 1050 meters targeting to test the potential of Sui Main Limestone formation. The target zone age has tested 8.05 MMSCFD gas through 128”/ 64” choke.
Advisor on Petroleum expressed confidence that this discovery will add to the hydrocarbon reserves base of the Joint Venture Partners, brining significant earnings for the country.
MD OGDCL briefed Dr. Asim Hussain that preliminary assessment shows an estimated reserves in place of about 1.06 TCF, which would be confirmed by further appraisal wells. It is of low calorific value gas but with the right technology, can be enhanced to better quality gas.
For more information, contact:
Ministry for Petroleum and Natural Resources
Tel: +9251 921 0220 -9206416
Fax: +9251 921 3180