[QUOTE]
*Originally posted by bdsurti: *
Pakistani Tiger Ji
How can Pakistan help Afghanistan buy paying money to Qatar?
[/quote]
Qas Pipeline from Qatar to Pakistan will be the survival material for Afghanistan, not for Pakistan.
P.S Pakistan will help Afghanistan in Gas Sector as well but before that we have to watch requirements for our Country and Provinces.
Edited: Your link doesn't work
[QUOTE]
*Originally posted by Adnan Ahmed: *
Bdsurti
From the above article...
"He said Pakistan was surplus in gas at the moment but would face shortages in 2007 "if we don't have another discovery like Sui". The Sui gas field, discovered in early 1950s in Balochistan, had total recoverable reserves of around 10 trillion cubic feet, more than 60 per cent of which has already been consumed."
Conflicting claims.
[/QUOTE]
Adnan Ahmed Ji
This is really complicated.
In January 2002 Pakistan declares that they have 30 Trillion Cusecs of Gas Reservoir Discovered in Blochistan. This is of course in addition to what had been discovered Earlier.
Please note that one ** CUSEC** is equal to ONE ACRE CUBIC FEET.
So this Gas Reservoir descovered in January 2002 is MASSIVE, HUGE, MIND BOGGLING ETC. ETC.
I am unable to understand why the latest news that Pakistan will have difficulties in 2007 if no new Gas fields are discovered. Pakistan has already said that the Discovery in Balochistan will last 50 Years.
Adnan Ji please read my posts carefully and then let me know why this latest CONFLICTING CLAIM IS BEING ENTERTAINED.
Have a very nice day.
[QUOTE]
*Originally posted by bdsurti: *
Adnan Ahmed Ji
This is really complicated.
In January 2002 Pakistan declares that they have 30 Trillion Cusecs of Gas Reservoir Discovered in Blochistan.
[/QUOTE]
Your link doesn't work. On what basis you said it is complicated, then?
[QUOTE]
*Originally posted by Pakistani Tiger: *
Your link doesn't work. On what basis you said it is complicated, then?
[/QUOTE]
**Pakistani Tiger{b]
Regretfully Pakistan Observer's Archives only go back to July 01 2002.
This article appeared sometime in January 2002 and as such you have two options :
or
I copied this post on to a disk as with a Thirty Trillion Cusec Feet Gas Field having been found it led me to think that there must be other similar fields in the vicinity.
Thus may be Pakistan has possibly One Hundred Trillion Cusec Feet of Natural Gas and as such with an abundance of Natural Gas in the Area India could get the Gas from any of the Five or Six Major Players in Natural Gas Economically or indeed from Pakistan itself.
Alternatively since the Natural Gas as well as Oil are found in a continuous belt so may be this belt also extends to India so that India can get a substantial amount of Gas or Oil from its Domestic Fields.
The finding of off shore Natural Gas Oils off the Indian West and East Coast prove that I have been thinking on the right lines.
So please use you influence with the Pakistani Observer and get hold of this Article.
Meantime the complication arises in the two posts being contradictory i.e. this latest one says that Pakistan has exhausted over 60 per cent of its reserves and the other states that Pakistan in January 2002 had sufficient Gas for the next Fifty Years
Dhanaywad + Shukriya + Meherbani
Have a Nice Weekend
Ka Ching.
Here is a very good article with regards to the Gas and Oil expolration in Pakistan, and its current reserves.
http://www.gasandoil.com/goc/news/nts24076.htm
Pakistan is wooing more foreign investment in oil and gas sector.
18-09-02 Pakistan attracted nearly $ 1 bn of foreign investment in the oil and gas sector last year and is wooing more multinational companies to explore its huge untapped resources. Located at the cross roads of Central Asia, Pakistan’s resource potential is estimated at 200 tcf of gas and 40 bn barrels of oil. The country made desperate attempts to lure foreign investors who had preferred to stay away since long, mainly owing to law and order situation, weak economy and inconsistencies in government policies. However, following aggressive policies and a number of liberal incentives by the government of President Pervez Musharraf, the investment opportunities for both local and foreign investors have greatly improved.
As many as 25 oil companies – including 21 multinationals – are operating in Pakistan and presently there are around 100 active licenses under exploration covering an area of about 280,000 sq km. Of the huge resource potential, Pakistan has been able to actually discover 15 % of the total gas reserves and some 1.5 % of the total oil assets.
Historically, the country has been depending on imported oil to meet its domestic demand with an annual 7 % growth in its consumption. The country is producing 66,000 bpd of oil as against the consumption of 359,000 barrels and is compelled to import the rest to meet local requirements.
During the year 2000-2001, the country’s oil import bill amounted to $ 2.8 bn which accounted for about 27 % of its total exports earning. The previous fiscal year, ending on June, 2002, however saw a decline in oil import bill to around $ 1.5 bn, primarily due to falling prices of petroleum products in the international market.
Pakistan has 25.1 tcf of proven gas reserves, and currently produces around 0.8 tcf of natural gas per year, all of which is consumed domestically. The country’s demand for natural gas is expected to rise substantially in the next few years, with an increase of roughly 50 % by 2006, according to Pakistan’s oil and gas ministry.
Pakistan also plans to make gas the “fuel of choice” for future electric power generation projects. This will necessitate a sharp rise in production of natural gas. The present government realizing the dire need to bring in foreign investment into this vital sector has been making efforts to woo the multinational companies. Under Petroleum Exploration Policy 2001, the government has emphasizes on improving, consolidating and continuing earlier policy reforms. An open gas-pricing policy, cut in income tax rates, abolition of mandatory participation of the Pakistani government in exploration joint ventures and facilitation in repatriation of profits back home are making the country’s oil and gas sector more lucrative to the foreign investor.
The new and existing oil companies are now increasing their investment in exploration in the Punjab Plateau and lower Sindh province, which are pregnant with huge oil reserves. As a result about 100 wells will be drilled during the current year while in the previous year only 35 well could be drilled. Most of the foreign firms active in Pakistan in the oil exploration and production sector are small independent firms. Chinese oil and gas exploration companies are also fast expanding and accelerating their investments here. Development of new natural gas fields is proceeding well with the government expecting recently discovered fields to add about 1 bn cfpd to Pakistan’s natural gas production.
2bornot2be Ji
Thank you very much indeed for the above article ’’ Pakistan is wooing more foreign investment in oil and gas sector.’’ I am sorry that my post had to be deleted due to the very valid reason that the Link wasn’t working. Thank God the Link to your post is working and instead of 50 Years Consumption Pakistan has over 100 years of Natural Gas and over 200 Years of Oil.
With the information ’’Located at the cross roads of Central Asia, Pakistan's resource potential is estimated at 200 tcf of gas and 40 bn barrels of oil.’’ it now becomes apparent that Pakistan does not have to import Oil or Natural Gas whether by Ship or by Land pipe line or by Sea pipe line.
Pakistan’s Gas consumption is about 1.0 Trillion Cubic Feet per year and even this is doubled then Pakistan has sufficient Gas Reserves for 100 Years. Pakistan’s Oil Consumption is less than 20 Million tons per year and with a Reserve of 40 Billion Barrels i.e. about Six Billion Tons even with a consumption of 30 Million tons per year these Oil Reserves will last for at least 200 Years.
So I think Pakistan instead of having a pipe line from Qatar to import Natural Gas should use these Financial Resources to develop its own Oil and Gas Resources and in due course of time become a Huge exporter of Oil and Natural Gas.
HSKhan Ji
And the best of Ka Ching to You Sir
Pakistani Tiger Ji
I still cannot understand how Pakistan’s buying of Natural Gas from Qatar will help in the Development of Afghanistan. Any case let us leave it at that but I will be grateful if any of the other members can explain how this comes to pass.
BTW my link was from Paktoday and not Pakobserver. I regret the error. Even Pakobserver Archives have only a few weeks data.
Everybody have a nice day.
http://www.dawn.com/2002/11/25/ebr5.htm
How many mega gas pipelines do we need?
By Sultan Ahmed
How many mega pipelines does Pakistan need to carry gas from neighbouring countries to meet the shortage that will arise after 2007?
Senior officials concerned with the gas industry claim the country has surplus gas now - which is not the experience of the domestic or industrial users and industries which want to use gas instead of electricity - and this surplus will last until 2007 after which large supplies would have to be pumped in from gas-rich countries close by like Iran, Turkmenistan and Qatar.
The alternative is hitting a very large gas find like the Sui gas field which had a total capacity of 10 trillion cubic feet when it was discovered in the 1950s of which 60 per cent has now been used up.
Small gas wells are being discovered in sizeable numbers and with delightful frequency, and they are supposed to have saved the country some $700 million of imports of oil this year.
To fill the large gap expected five years from now and reduce the heavy oil import bill Pakistan is negotiating with three countries - Turkmenistan, Qatar and Iran. And the negotiations have been going on, off and on, for the last almost ten years.
All the three countries and Pakistan are members of ECO {Economic Cooperation Organisation of ten Muslim countries) and the negotiations are usually revived following meetings of the ECO summit. But they don’t make much headway because of the very large sums involved and the need for largely Western countries to make those large investments. But political uncertainties in the region, economic instability and global recession have stood in the way.
The three projects together are expected to cost Rs 11- 15 billion. No detailed feasibility studies have been made. So much of the cost estimates are guess estimates. The length of the pipeline or where it emanates from in the source country and where it ends in the receiving country or Pakistan also matter.
Pakistan would have also to invest on developing the gas distribution system sufficiently to cope with the additional supply and not only to substitute its depleted gas. Currently while Pakistan is in surplus in respect of gas that is in the gas wells and not at the gas distribution centres in the towns and cities or at the thermal power generating stations, which want to substitute their fuel oil with gas which is cheaper.
Pakistan is now actively negotiating with all the three countries. And it has set up an interests gas committee with Munawar Basir as its head to negotiate with those countries and he says: "We are keeping all options open which are in the pre-feasibility mode and would take along which suits us best and keep our rights protected.
But what matters could be not only our interests as we would not be making those large investments but also interests of the large foreign investors or the financiers. Ultimately are we to opt for one pipeline or two or three. In our efforts to be too smart can be lose many of the interested investors in view of the region’s political uncertainties as well?
What is to be the future of Saddam Hussain and the role of Iraqi oil in the world economy. Currently the world oil prices have come down as Saddam has accepted the UN demand to let inspectors look for his weapons of mass destruction. What next as President Bush wants to see an Iraq without Saddam Hussain, something which father Bush could not do in 1991.
Currently the shortest and the cheapest line (guess estates) is Turkmenistan-Pakistan line via Afghanistan with a length of 1,400 kilometres and a cost of $3.2 billion. The US is interested in that pipeline, Alan Larson, US deputy secretary of state, for commerce who visited the region has affirmed his support and financial assistance for that. The US is interested in helping Afghanistan, Pakistan and Turkmenistan through that line with Afghanistan receiving the royalty upto $500 million. American petroleum companies like Unicol and Delta Petroleum were earlier interested in building the pipeline and carrying the gas to Pakistan. Who will be the financiers of the pipeline now?
The company building the pipeline from Turkmenistan and operating it and Turkmenistan itself, are interested in the pipeline carrying the gas to India as well. That would make the cost of carrying the gas lower and the return from the investment on the pipeline better and result in higher sale of gas. But India at the moment is not interested in any gas pipeline passing through Pakistan which gives control over the gas supply to Pakistan as well as royalty payment.
The same reservation of India is standing in the way of the Iran-Pakistan gas pipeline passing through land to India. India prefers the pipeline to pass under water but through the territorial waters of Pakistan. Pakistan objects to that and wants the pipeline to pass by land assuring India that it would not interfere with the line. Even otherwise Pakistan would not want to annoy Iran, particularly during a regional crisis or threat of war, when Pakistan’s dependence on Iran becomes greater.
American oil companies are not interested in funding that pipeline because of the strained relations between the US and Iran. Now the giant semi-official Russian gas company of Gazprom has sprung into action and shown interest in building the pipeline via Pakistan; but Indian deputy prime minister L.K. Advani has objected to that arguing India has a national security problem with Pakistan.
Then comes the long discussed Qatar-Pakistan gas pipeline. Pakistan has now earnestly resumed negotiations with the Crescent Petroleum of Sharjah for a “gas sales and purchase agreement.” The company had submitted a Gulf-South Asia - GUSA project to the Pakistan government last year. And now Mr Mohammad Makkawai of the GUSA pipeline project says the Crescent Petroleum has deleted India as the destination of the pipeline.
In fact the pipeline from Qatar was pursued in the 1990s earnestly when the civil war in Afghanistan was at its worst and there was small hope of getting gas or electricity from Central Asia. But after the situation in Afghanistan improved and the US got more interested in that country the Qatar project receded.
But if the Western oil and gas companies, or the US companies have to put in large sums, conditions in Afghanistan have to improve greatly and there has to be peace in the areas through which the pipelines has to pass.
Even if Qatar has deleted India from its deal, making India a part of the deal is beneficial to all the parties, including India. As the pipeline becomes larger the unit cost of supply of gas for Pakistan will become lower. Pakistan will receive rent or royalty for pipeline passing through it territory to India. And while Pakistan can receive the gas it needs through the pipeline, if it has a surplus it can pump that into the system and get paid for it.
Mr Basir talks of not only getting gas through the pipeline but also of pumping the surplus into the line in view of the increasing discoveries of gas in Pakistan which have been pretty dramatic in recent months. So it would be good to have a facility to sell the possible surplus gas while we are open to receiving the deficit.
The pipeline system covering India too is good for that country as well because that country has acute shortage of both power and gas, and its economy will be far better for an assured supply of economical energy. And the pipeline will strengthen South Asian economic cooperation on an assured basis while India complains of the lack of it as a reason for small excitement for SAARC meetings.
But in trying to negotiate with two many parties we should not prove to be clever by half. If we are investing a part of the capital it would have been a different ball game. Instead expect others to foot the total investment bill. And while the cost of each project is too many large and the beneficiary countries too few, the political uncertainties are too many. In fact as early as 1995 the government of Pakistan and Qatar had appointed a technical committee to speed up the Qatar-Pakistan pipeline but little that was tangible followed thereafter.
What is certain is the gas that we will receive at the factory-domestic end eventually will be far more costly than the Pakistani gas. In fact even the local gas is expected to rise to world price level within three years under the agreement with international aid agencies. But more expensive gas is better than no gas, except that taxes seem to make it far worse.
With nothing in hand for funding the project save the need for energy we should not overstate our terms or overplay our hand. We should not come to a station in which we have none to negotiate after we had too many.
Another person saying our gas will run out by 2007!!!
Adnan Ahmed Ji
Lo kar Lo Baat.
http://www.dawn.com/2002/11/25/ebr10.htm
Oil politics brewing up in Balochistan
By Syed Fazl-e-Haider
The free port at Gwadar having a potential to become mother port of the region, the Turkmenistan pipeline project from Daulatabad to Gwadar via Kabul, the Mekran Coastal Highway project and, the surveys for oil and gas exploration by foreign firms are not only mega foreign-funded projects, but also indicate ushering in of an era of oil politics in Balochistan.
The province is strategically located in a region of immense geo-political importance. It is surrounded by countries like Afghanistan, Iran, and Arabian Gulf Sheikhdoms which are rich in oil and gas reserves. While on the one hand it is located in the midst of oil and gas reserves, on the other most important international sea routes pass by the Balochistan coast. It has the potential to become the centre of international trade and politics in the coming years.
The new developments in the region after 9\ 11, mainly the fall of the Taliban regime and the installation of the US-backed Hamid Karzai government in Afghanistan are indicators of a great game in the offing.
There are indications that Balochistan will soon be in the grip of international oil politics in coming years. It has become the focus of attention for foreign petroleum firms. The Pakistan Petroleum Limited (PPL) has been dominating the area of oil exploration for many decades in Balochistan. In future it will have no important role in the province. The international players of oil politics have focused their eye on huge oil and gas reserves, still unexplored in Balochistan.
A Chinese company, BGP, is reportedly resuming seismic and aerial surveys in Bugti tribal area shortly. The company had suspended the survey in Sui due to security reasons. The BGP was awarded $1 million contract last year by the government of Pakistan to carry out a seismic survey over an area of 178km in Dera Bugti. Any discovery of oil reserves in Balochistan may change the fortune of Pakistan. Oil exploration in Balochistan should not be limited to Marri-Bugti area alone, other districts also need to be explored.
According to the Geological Survey of Pakistan (GSP) sources, reserves of 19 trillion cubic feet of gas and six trillion barrels of oil are estimated during the offshore exploration in Balochistan. These GSP’s statistics confirm big reservoirs of oil and gas in Balochistan. Panjgur, Lasbella, Kharan, Kalat and Marri districts are also under exploration for oil and gas. The planning and development department’s report of 1998 lists the production from different gas fields as follows: Gas fields Production in mcf per day 1.Sui fields 500 mcf 2.Uch fields 260 mcf 3.Peerkoh fields 150 mcf 4.Loti fields 50 mcf 5.Gundran fields 12 mcf
Geological studies have proved that the oil reserves are found below the gas (methane) reserves. Oil and gas are the hydrocarbons which are today to be the symbol of riches.
To ensure exploration and production of oil and gas in the province, the government of Pakistan and its agencies will have to play the role of security guards for foreign experts and engineers carrying out the survey and other works. It is better to create and maintain a stable socio-political environment for ensuring a sustainable process of economic development in the country. The Chinese experts had stopped work in June last year following the deterioration of law and order and security environment in Bugti tribal area.
Tribal chiefs and local people of the area are rightly demanding shares in the benefits from the economic development in their region in terms of employment and royalty. The government should guarantee the protection of legitimate interests of the local people by providing jobs to local youth in foreign-funded projects.
Gwadar is going to be the third port in Pakistan. Gwadar is strategically located and has the potential to promote global shipping in the whole region and would also help the landlocked Central Asian economies, including those of Russia and China. The establishment of a free-trade area and an export processing zone is a part of the Gwadar deep sea port project.
Pakistan would get its share in terms of economic benefits, which would come from trade and exploration activities in the region. Moreover, Pakistan can hope to receive substantial investment from the United States and the Western countries.
The human resource development requires immediate attention in Balochistan. Development of technical skills and expertise in different fields of science will ensure benefits for local people from the economic activities in their province. The government should establish technical institutions. These institutions would impart necessary training, enabling the local youth to seek jobs when execution of projects start.
======
With reserves of 19 trillion cubic feet of gas and six trillion barrels of oil are estimated during the offshore exploration in Balochistan why would Pakistan have to Import Natural Gas or Oil?
Since this quantity is only OFF SHORE RESERVES what about Off Shore Reserves of Sind and the Potential Reserves on land in Punjab, NWFP, Balochistan and Sind.
With all these reserves how can anybody justify Pakistan Importing Natural Gas and Oil.
I hope to have your and, among others, 2bornot2b Ji’s vies in this matter
Have a very nice day
[QUOTE]
Originally posted by bdsurti: *
**Pakistani Tiger Ji*
I still cannot understand how Pakistan’s buying of Natural Gas from Qatar will help in the Development of Afghanistan. Any case let us leave it at that but I will be grateful if any of the other members can explain how this comes to pass.
[/quote]
Did you read my first post of the thread? Main point of the Gas Pipeline is to ensure the provision of Pakistan's right to offtake or inject in case of shortage and surplus respectively. Therefore, Pakistan can't ignore her provinces and help Afghanistan to get recover. We do have Gas Reserves in big amount, which could last for 50 years from now. But keep in mind, from the same reserves Pakistan has helped and is helping Afghanistan.
[quote]
BTW my link was from Paktoday and not Pakobserver. I regret the error. Even Pakobserver Archives have only a few weeks data.
[/QUOTE]
I never said about whether the link was from Paktoday or Pakobserver. It simply doesn't work.
Im no expert on Gas and energy and the like, but according to the article I put up previously, Pakistans surplus will only last up to 2007… Contradiction???
Bdsurti Ji,
Thanks for the article. Very encouragng indeed. Inshallah the reserves will indeed be exploited for the good of the people. Aap kai moo main ghee aur shakar.
With regards to my take on the situation and why Pakistan maybe importing gas at this juncture is as follows:
I was recently speaking with a person who works at one of the oil fields in Pakistan. He tells me that even though there is plentiful resrves of oil and gas, unfortunatley the geology of the land means that to extract the oil/gas is 40% higher than say KSA or Iran (n.b: the figure is not properly costed at present). There will of-course need to be a fine balance between the profits that will be gained by the Pakistanis and the oil companies.
At present, what is being looked at, but not yet finalised, is the profit margins from per barrel of oil/cupic meter of gas, with todays market value as a guage.
As you can appreciate, the bureaucracy and the contractual negotiations can take upto 5-10 years. Especially, for a project of this scale, where economies of countries maybe at stake.
It is thought that the current working gas fields will be depleted by 2007-2010. With this in mind, and with no sign as yet of proper negotiations (still exploration stage) and cost benefit analysis due to the geological nature of the land, I believe the government of Pakistan is looking at the short term measures of importing gas and make sure there is smooth transition. Yes, this may indeed be expensive in the short term.
There of-course maybe 'real-politik' reasons, which I am not aware of?
I can hear money exchanging hands! Wohoo.
Pakistani Tigr Ji
This post is about the Natural Gas Pipe Line to carry Gas from Pakistan. Paragraph One states that NO GAS WILL GO TO INDIA.
3. "We are talking about the Qatar-to-Pakistan gas pipeline only and we are not interested in taking the Qatari gas to India," Mohammed E. Makawi, the project director of Gulf-South Asia (GUSA) Pipeline Project, told Dawn.
Paragraph Three reiterates that NO GAS WILL GO TO INDIA.
9. "Pakistan would get transit fee if the pipelines finally goes to India but the main point of our discussions was to ensure the provision of Pakistan's right to offtake or inject in case of shortage and surplus respectively," Munawwar said.
Since this post is about Natural Gas Pipe Line from Qatar to Pakistan and Paragraphs One and Three have very emphatically stated and reiterated that NO GAS WILL GO TO INDIA then what is Mr. Munawwar talking about. Also how can Pakistan utilise the right to offtake or inject in case of shortage or surplus respectively when this pipe line will start in Qatar and end in Pakistan?
I think Mr. Basir is now complicating the whole issue and is bringing in other projects. This has nothing to do with Qatar-Pakistan Gas Pipe line which is being constructed to provide Natural Gas to Pakistan and NO GAS WILL GO TO INDIA.
Yes indeed the agreements will be simultaneously signed in Pakistan and Qatar because NO GAS WILL GO TO INDIA.
Once again Mr. Makawi reiterates unequivocally that Gas from the Qatar-Pakistan pipe line is for Pakistan only and NO GAS WILL GO TO INDIA. However he now confuses the issue by mentioning other projects.
As such the Qatar-Pakistan pipe line will not supply Natural Gas to India then NEITHER WILL IT EARN ANY TRANSIT FEES nor does the ‘’PAKISTANI RIGHT TO OFF-TAKE OR INJECT ARISE.’’
My question is only related to the point as to How Pakistan will help Afghanistan by buying Gas from Qatar and using the Qatar-Pakistan Gas pipe line. Of the other projects Afghanistan will again not benefit if Pakistan builds an Iran-Pakistan pipe line even if this pipe line goes to India – HIGHLY UNLIKELY.
The only way Afghanistan will benefit is when the Turkmenistan – Afghanistan – Pakistan pipe line is built. In this case it does not matter if India takes the Gas or not – Prime Minister Vajpayee has already stated emphatically that India will not accept Gas from a pipe line through Pakistan.
Re Pakobserver & Paktoday Mix up : The fault is mine so I apologised. Hope uyou will accept it.
Have a very nice day.
2bornot2b Ji
Aap kai moo main ghee aur shakar. : Yes indeed. You have saved me from having the ‘’cholesterol problem’’ by not adding ‘’malai’’
I accept your explanation about the ‘’geology problem’’ causing extracted gas in Balochistan being 40% costlier than that extracted in KSA. Any way prices always keep going up and new technology converts ‘’uneconomical assets’’ into ‘’economical ones’’.
Also Nations act in their own interest and if it is in the interest of Pakistan to import natural gas from Qatar then so be it.
As an Indian I also hope that the Oil and Gas bearing belt extending from Iraq and Saudi Arabia right down to Bangladesh and Myanmar also provides India the benefit of Oil and Gas reserves to enable it to have Security in the Field of Energy.
This has again been a fruitful discussions and I join you in lauding Pakistan’s Good Fortune in striking such massive Oil Reserves of Six Trillion Barrels and 19 Trillion CFT of Natural Gas. It should provide Pakistan with sufficient Energy Resources to last for at least 100 Years if not more.
Real-Politiks : The Last Resort of a Real Scoundrel
Have a Nice Day
[QUOTE]
*Originally posted by Adnan Ahmed: *
Im no expert on Gas and energy and the like, but according to the article I put up previously, Pakistans surplus will only last up to 2007... Contradiction?!?!?
[/QUOTE]
*Adnan Ahmed Ji *
You are right. Conflicting, Contradicting and Confusing Reports.
Well I believe the one which says Pakistan has got off shore reserves in the Coastal areas of Balochistan to the tune of Six Trillion Barrels and Nineteen Trillion CFT of Natural Gas.
Wait for more Reserves off the coast of Sind and also the Reserves on land in Balochistan, NWFP, Punjab and Sind.
Have a Nice Day
Another gas discovery.
http://www.dawn.com/2002/12/12/top9.htm
Gas discovery to help save $45m
By Khaleeq Kiani
GURGARY (Karak), Dec 11: The country has hit natural gas reserves of around one trillion cubic feet (1TCF) here, Petroleum and Natural Resources Minister Chaudhry Norez Shakoor announced on Wednesday.
He, however, said the oil import bill would touch the highest figure of $3.5 billion by the end of the current fiscal year.
This was the first gas discovery in the NWFP and it had increased the prospects for more discoveries in the region, Petroleum Concessions Director-General G.A. Sabri said.
He said Tal block was the last exploration block in the southwest but some more blocks might have to be created due to the discovery at the Manzalai-1 well.
Oil reserves of around 2,200 barrels per day production were discovered last year in Shakardara, near Kohat. Before that the province was never considered to be prospective by the foreign oil companies.
Total production at Manzalai well No.1 is estimated at 35 million cubic feet daily (MCFD) of gas and 230 barrels per day of condensate. This would result in foreign exchange saving of around $45 million every year, said the operations manager of Hungarian oil company MOL, Gabor Vakarcs.
A geologist said the prospective area spread from Potohar region, where a number of oil and gas discoveries had been made, through the Kurram Agency to Afghanistan.
A $14 million investment has so far been made on the discovery. The MOL, an oil exploration company from Budapest, is the operator of the petroleum concession block with 10 per cent shares. Government Holdings Limited (GHL) has five per cent shares.
Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) hold 30 per cent shares each, followed by 25 per cent of Pakistan Oilfields.
Mashallah!