KARACHI: The attempts to find hydrocarbons off the shore of Pakistan has been failed to yield any results of getting oil and gas reserves.
The assistant to PM Imran, Nadeem Babar said after the drilling of 5500 meters at Kakarwan no sigh of gas and oil found.
Around four months ago, Italian firm ENI, the operator of the Kekra-1 offshore block, started drilling in a joint venture with US firm ExxonMobil — one of the world’s largest oil and gas firm — and the Oil and Gas Development Company Limited (OGDCL).
“However, after drilling up to over 5,000 metres, no reserves have been found,” Babar said.
He added that Dutch firm Shell had also carried out offshore drilling 10 years ago but failed to find hydrocarbon reserves.
The official said the ENI, in partnership with other companies, had invested around $100 million and predicted a 13% success rate during drilling.
However, the official noted that India had found offshore reserves after 40 attempts.
“Therefore, Pakistan should continue its efforts to found reserves because there is a long area where reserves have been predicted. The drilling was made in ultra-deep waters some 280 kilometres away from Karachi coast,” he said.
