Latest news about Oil Gas possible discovery

[Indus Pakistan]

meaning not worth of drilling I guess then. It will take 5-6 years to add these oil in our bracket after completition of infrastructure.

Well at least there is some. We can hope for the find being bigger.

 

[Hassannn85]

meaning not worth of drilling I guess then. It will take 5-6 years to add these oil in our bracket after completition of infrastructure.

But these are predrill estimates. Earlier Bloomberg said it has 550+ million barrels.

Mind you approximately 30% goes to Exxon and ENI.

 

[AZ1]

Well at least there is some. We can hope for the find being bigger.

these are predrill estimates. Earlier Bloomberg said it has 550+ million barrels.

Let's hope and pray that we find big.

Mind you approximately 30% goes to Exxon and ENI.

Yeah but if we settle refinery like aramco investing we may have some benefit from Exxon and Eni as well for refining the oil in our refinery. They wouldn't have to take the oil to somewhere else to refine.

 

[CrazyZ]

Hope for the best. Prepare for the worse. I am personally more concerned about developing our other proven energy resources, hydro Thar coal solar biomass, shale. When the official report comes out then our consider offshore energy. What ever the amount, it will take years to develop.

 

[zulu]

oh ji koi gul hi nahi come to Karachi join business lots of scope there also in Agri hum baithay hain naa bus tashon as i quoted 1.5-1.7 bil in your thread but IA uss sy bhi ziyada hoga bus duwa karty hain

Tom loog meri wardi ottarway kay hi dum logay.

 

[Major Sam]

From a global perspective, the push for substantial new discoveries shows no signs of slowing down, with another 35 high impact exploration wells expected to be drilled this year, both onshore and offshore. Three such highly prospective wells are already underway: the Shell-operated Peroba well, off Brazil, with pre-drill prospective resource estimates of 5.3 billion boe; Eni’s Kekra well in Pakistani waters, with pre-drill prospective resource estimates of 1.5 billion boe; and the Total-operated Etzil well off Mexico, with pre-drill prospective resource estimates of 2.7 billion boe.

"If these wells prove successful, 2019’s interim discovered resources will be the largest since the downturn in 2014,” Shariff remarked.

https://www.rystadenergy.com/newsev...ies-on-the-rise-as-majors-take-a-bigger-bite/

 

[AZ1]

Hope for the best. Prepare for the worse. I am personally more concerned about developing our other proven energy resources, hydro Thar coal solar biomass, shale. When the official report comes out then our consider offshore energy. What ever the amount, it will take years to develop.

Don't know how much or when we will be able to bring these in to our currently use brackets

 

[niaz]

Unlike some of the videos I have seen made in Pakistan. This one is made by a rational & informative person.

We have to see what the estimate for the field....is not the well. I should say the largest offshore oil field not in the Gulf is 6.5 billion barrels in Brazil (recoverable). Offshore oil now accounts for about 30% of world output.

Regret to disagree. To the best of my info, the largest off-shore oil field in the world is the "Safaniya" oil field located in the Arab Gulf off Saudi Arabia. The field has about 50-billion bbl of oil in place out of which 36-billion bbl is recoverable.

 

[Hyde]

True. 1.5 billion is puny. Not enough to meet even next 5 years demand. Although I guess something is better than nothing.

True. 1.5 billion is puny. Not enough to meet even next 5 years demand. Although I guess something is better than nothing.

I am hearing different figures since last few days. One of such example is

He said there are encouraging prospects of the current offshore drilling by Exon Mobil, NNIO, GDCL and PPL joint venture and Pakistan is expecting good news. Quoting a US study, he said nearly 95 TCF gas and 15 billion barrels of oil could be procured from the country’s offshore sources.

Source: https://www.thenews.com.pk/print/45...-give-oil-gas-to-pakistan-on-deferred-payment

Lets wait for few days until finally someone from the Government comes to enlighten us all

 

[niaz]

True. 1.5 billion is puny. Not enough to meet even next 5 years demand. Although I guess something is better than nothing.

Hon Indus Pakistan,

1.5-billion bbl OE reservoir may be below our expectations but even "IF" that much is actually found it is something to be happy about. At today's prices, 1.5-billion bbl oil in place is worth about $100-billion!

Additionally, you would not exhaust the reservoir in 4 or 5 years. Too much extraction too soon can seriously damage the oil bearing structure. Reservoir Engineering is a discipline which estimates the maximum output from a hydrocarbon reservoir without damaging its integrity.

One seldom exhausts a petroleum/gas reservoir at the maximum rate determined by the reservoir engineers. Arguably any investor would like to take out as much money as possible for the longest period possible. Since international petroleum prices fluctuate wildly; "Optimum" level also takes into account future price expectations.

 

[Indus Pakistan]

Hon Indus Pakistan,

1.5-billion bbl OE reservoir may be below our expectations but even "IF" that much is actually found it is something to be happy about. At today's prices, 1.5-billion bbl oil in place is worth about $100-billion!

Additionally, you would not exhaust the reservoir in 4 or 5 years. Too much extraction too soon can seriously damage the oil bearing structure. Reservoir Engineering is a discipline which estimates the maximum output from a hydrocarbon reservoir without damaging its integrity.

One seldom exhausts a petroleum/gas reservoir at the maximum rate determined by the reservoir engineers. Arguably any investor would like to take out as much money as possible for the longest period possible. Since international petroleum prices fluctuate wildly; "Optimum" level also takes into account future price expectations.

Appreciate your input. We know you have significant experiance in this industry so your views are taken seriously.

Lets wait for few days until finally someone from the Government comes to enlighten us all

Yeh, either way it is good news.If Pakistan could stave off oil imports [by indigenous supply] it would do wonders for the country as it would create a ten year space for the government to get the economy overhauled and fire up.

 

[ali_raza]

Tom loog meri wardi ottarway kay hi dum logay.

sir ji hamko hi dm kardo asli baat afterall we r neibours lol

 

[Khafee]

sir ji hamko hi dm kardo asli baat afterall we r neibours lol

Check my original thread, everything is there.

 

[ali_raza]

Check my original thread, everything is there.

20 billion

 

[Hakikat ve Hikmet]

Good stuffs drop in trickles. Bad stuffs rush in a deluge....

meaning not worth of drilling I guess then. It will take 5-6 years to add these oil in our bracket after completition of infrastructure.

But these are predrill estimates. Earlier Bloomberg said it has 550+ million barrels.

Are they in a mood, post 02-27 (a multinational, multilateral etc. JV), to deliver all the good news to Pak?!?!!!!