Crude oil reserves found in Sindh

Jun 22, 2015 12:00 AM

Pakistan’s Oil and Gas Development Company (OGDC) discovered large reserves of crude oil in Sindh. The site also has shale gas, which was clarified by the firm’s Managing Director Mohammad Rafi.

The discovery of oil in Sindh is big news to Pakistan’s oil and gas industry, as the province is not exactly known for its oil production. Usually, discoveries of the precious black liquid in the country happen in Khyber Pakhtunkhwa or Upper Punjab. The new discovery will no doubt add significantly to Pakistan’s oil reserves.

According to OGDC, about 1,100 barrels of crude oil can be collected from a well in one of Sindh’s towns, Tando Allahyar. It will cost the company around Rs700 million in order to get oil from the well.

Drilling in Pakistan is more expensive than in other countries that are rich in oil like Saudi Arabia because the former needs to dig deeper.

“For this discovery, the well called Poly Deep-1 was dug more than 4,000 meters while in Saudi Arabia crude oil is found at 400 to 500 meters,” said a spokesman for OGDC.

In addition to the fact that there’s more oil to be dug in the Middle East, firms that support oil and gas facilities are more abundant in the region compared to Pakistan. In Southern Iraq, Basrah Gas Company, a firm that was made possible via the partnership of 3 international firms, recently modernized its compressor stations and it wouldn’t happen instantaneously without the confidence and support of multinational oil firms.

Despite the high operational costs of drilling in Pakistan, the country garners about 80,000 barrels of oil per day, with OGDC contributing to more than half of it.

“We have set a target of 50,000 barrels crude oil per day to achieve by June 30,” OGDC’s spokesman said

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