Upstream Highlights
Pakistan enjoys an ideal geographic and strategic location serving as a hub for international energy supply routes. The latest Basin Study of April 2009 confirms the rich oil and gas potential of the country. Key figures from the study are listed below.
| RESOURCE |
POTENTIAL |
EXPLOITED SO FAR |
| Oil (Million US Barrels) |
3675 |
934 |
| Gas (Trillion Cubic Feet) |
67 |
54 |
There are still abundant reserves in Pakistan that are yet to be explored. To ramp up production from existing wells and tap into the unexplored reserves, serious measures need to be taken. In light of the current energy crisis, Government of Pakistan has introduced a flexible and attractive package for onshore and offshore petroleum exploration through the Petroleum Policy 2009.
Oil & Gas Reserves
|
ORIGINAL
RECOVERABLE |
CUMULATIVE
PRODUCTION |
BALANCE
RECOVERABLE |
Oil Reserves
(Million Us Barrels) |
933.720 |
620.685 |
313.035 |
Gas Reserves
(Trillion Cubic Feet) |
53.56 |
23.89 |
29.67 |
In last five years, Ministry of Petroleum & Natural Resources has granted 88 licenses to various Exploration and Production (E&P) companies including 16 international groups such as BP of UK, Eni of Italy, MOL of Hungary, OMV of Austria, BHP of Australia, NIKO Resources of Canada, amongst many others. The E&P industry has also committed an investment of 486 Million US$ in the oil & gas sector.
Upstream Sector Highlights
Exploration Wells
(To-Date) |
742 (Including 66 wells drilled before 1947 |
| Appraisal/Development Wells (To-Date) |
990(Including 33 wells drilled before 1947) |
| Total |
1732 |
| Sedimentary Area |
827,268 SQ. KMS. |
| Drilling Density (Well/1,000 Sq. Kms.) |
2.09 |
| Total Discoveries |
221 |
| Oil |
54 |
| Oil & Gas/Gas/Gas Condensate |
167 |
| Over All Success Rate |
1:3.35 |
| Area Under Exploration |
247,622.71 SQ. KMS. (30%) |
| Exploration Licence Held |
118 |
| By Private Sector |
79 |
| Local |
37 |
| Foreign |
42 |
| By OGDCL |
39 |
| Active Leases |
129 |
| Number Of Operators |
26 (Out of which 10 are Local) |
Oil Production
(May 2009) |
63,972 BOPD |
Gas Production
(May, 2009) |
4,047 MMCFD |
