Pakistan expects good news from Exxon Mobil’s deep-sea drilling in Kekra-I by April | CustomNews.pk

Pakistan expects good news from Exxon Mobil’s deep-sea drilling in Kekra-I by April

ISLAMABAD: Exxon Mobil has started drilling deep-sea Exploration Well Kekra-I in Indus G Block, and the endeavour is expected to yield first good news in March or April this year, Irtiza Syed, CEO Exxon Mobil said on Wednesday at a meeting with Ghulam Sarwar Khan, Federal Minister for Petroleum. Irtiza briefed minister about progress at Indus G Block, Press Information Department (PID) reported. The well’s diameter is 18 to 24 inches and Exxon Mobil has already reached at depth of 1900 feet. Exxon Mobil has given the target depth of 5500 feet. In March, Exxon Mobil will send a specimen to Houston for examination. Similarly ENI will send the specimen to Milan in March. The discovery is anticipated to yield gas flows which can be as big as Sui field, with estimated reserves of 3 to 8 trillion cubic feet (TCF), or 25-40 percent of Pakistan’s total gas reserves. Pakistan's Exploration and Production (E&P) companies along with international partners have ventured into offshore territory of underexplored but promising Indus G Block for deep sea drilling endeavor. The operator of the block, ENI has chartered, Saipem, a rig ship to drill the exploration well, located 230 kms south west of Karachi. ENI is an Italian company working in Pakistan since 2000.This endeavor is a joint venture (JV) formed by ENI, Exxon Mobil, OGDCL and PPL to spud Kekra I exploration well in Indus G Block. The exploration cost is estimated at $75 million. “After exploration, employment will be generated. If it is a successful discovery, then for next 25 to 30 years, Pakistan can use this gas. After its success, Exxon Mobil will spud in more wells,” the minister said. Ghulam Sarwar Khan also invited Exxon Mobil for onshore exploration. The minister apprised the meeting about the incentives and exemptions, government had introduced to make doing business easier and attract in investment. Vice President Exxon Mobil was also present.
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