KARACHI: According to an official of Ministry of Petroleum, after a gap of nine years, offshore drilling began a day earlier with estimation of huge oil and gas deposits in ultra-deep waters at an estimated cost of over $100 million.
The US firm ExxonMobil, one of the world’s largest oil and gas firms, in collaboration with Italian firm Eni Pakistan Limited, is drilling in ultra-deep waters some 280 kilometres away from Karachi coast.
“Eni Pakistan has estimated nine trillion cubic feet gas deposits,” the official said, adding “ExxonMobil expects oil deposits there.”
They are drilling Kekra-1 well in Indus-G block, which is located some 280 kilometres away from the Karachi coast.
They would drill around 5,800 meters deep from the sea level and are targeting to complete the spud in the next 60 days.
Pakistan meets around 15-20% of its energy needs through local oil and gas exploration and production, while the rest is met through expensive imports.
The oil and gas imports cost Pakistan around one-fourth of the total import bills per year. The country has emerged as one of the largest gas (liquefied natural gas) importers in the last couple of years at the world level.