Tag: Liquified Natural Gas

  • OGDCL confirms gas discovery near Ghotki, Sindh

    OGDCL confirms gas discovery near Ghotki, Sindh

    On Wednesday, the Oil and Gas Development Company Limited (OGDCL) announced the finding of gas from an exploration well near Ghotki, Sindh.

    “The joint venture (JV) of Guddu Block comprising Oil & Gas Development Company Limited as an operator (70 per cent), SPUD Energy PTY Limited (SEPL) (13.5 per cent), IPR Transoil Corporation (IPRTOC) (11.5 per cent), and Government Holdings (Private) Limited (GHPL) (5 percent) has discovered Gas from an exploratory well namely Umair South East # 01, which is located in District Ghotki, Sindh,” the company stated in a notice.

    The Umair South East # 01 well, according to OGDCL, was spudded on May 9, 2022, as an exploration well to investigate the hydrocarbon potential of the Pirkoh Formation and Habib Rahi Limestone (HRL) to a projected depth of 785m.

    “Based on the interpretation of wireline logs, successful Drill Stem Test-1 in HRL tested 1.063 million standard cubic feet per day (mmscfd) gas through choke size 32/64” at 210 pounds per square inch (PSi) Well Head Flowing Pressure (WHFP)”.

    The finding of Umair South East-1 is the outcome of Guddu Joint Venture Partners’ aggressive exploration approach, according to the Pakistani oil and gas business.

    “It has opened a new route and will favourably contribute to alleviating energy demand and supply gaps from indigenous resources, while also adding to OGDCL’s and the country’s hydrocarbon reserves base,” it said.

    The discovery comes at a fortunate time for Pakistan, which has recently experienced huge power outages and a gas scarcity.

    Mari Petroleum Company Limited (MPCL) discovered gas/condensate earlier this month in the Bannu West-1 ST-1 Exploration Well, which was drilled in the Bannu West Block in North Waziristan, Khyber Pakhtunkhwa.

  • Govt considering gas import contract with countries including Russia

    Govt considering gas import contract with countries including Russia

    Pakistan is in talks with multiple countries, including Russia, to sign a liquefied natural gas (LNG) import agreement in order to alleviate the country’s ongoing energy supply crisis.

    According to Bloomberg, the Ministry of Energy will go for the ‘most favourable deal’ and is considering government-to-government contracts for importing the gas.

    This action came as Pakistan battles blackouts caused by a fuel crisis caused by long-term suppliers’ failure to deliver shipments. To keep the lights on, the government previously resorted to purchasing LNG on the spot market, incurring debt that endangers worsening inflation on a massive scale.

    The government of Prime Minister (PM) Shehbaz Sharif, which took office on April 11, hopes to capture a new long-term LNG contract to help reduce fuel costs. Long agreements are remarkably affordable than existing spot pricing, while market participants also anticipate that this will provide some relaxation to the government.