Policy Being Worked Out To Tap Shale Gas, Oil Potential
Faizan Hashmi Published July 05, 2019 | 02:50 PM
The government is in process of finalizing a policy to exploit massive Shale gas and oil reserves, identified after a study completed in collaboration with the USAID, covering lower and middle Indus Basin
ISLAMABAD, (UrduPoint / Pakistan Point News - 5th Jul, 2019 ) :The government is in process of finalizing a policy to exploit massive Shale gas and oil reserves, identified after a study completed in collaboration with the USAID, covering lower and middle Indus Basin.
"Shale gas policy is being prepared for onward submission and approval of the quarters concerned," a senior official in the Petroleum Division told APP.
In 2015, he said a study completed in cooperation with the USAID had confirmed presence of 10,159 trillion cubic feet (TCF) Shale gas and 2,323 billion of stock tank barrels (BSTB) Shale oil in place resources.
While, the second phase of the study would be launched in other potential areas to assess the sedimentary rock-based fuel reserves in the country.
After identification of the deposits, a task had been given to Oil and Gas Development Company Limited and Pakistan Petroleum Limited to undertake pilot project(s) in potential areas to assess the cost of extracting Shale gas and oil, which could not be launched to-date.
According to the study, there are 188TCF gas and 58 BSTB oil technically recoverable resources, while the risked technically recoverable resources stand at 95TCF gas and 14 BSTB oil.
The study covered lower and middle Indus Basin, which geographically spreads over Sindh, southern parts of Punjab and eastern parts of Balochistan. Total area under the study was 271,700km, which is 33 percent of the total sedimentary area of the country.
During the study, a detailed analysis of 124 wells was carried out, including laboratory analysis on Shale cores and cuttings in the United States. Objectives of the study were to validate Shale gas resource estimate, initial findings, assess availability of required technology and infrastructure for Shale gas operations andformulate guidelines for the Shale gas policy.
Following the discovery, a dedicated Shale gas and oil centre had been established at the Petroleum House to facilitate interested Exploration and Production companies to exploit the potential.
Related Topics
Recent Stories
3 Gawadar attack victims funeral offered
Mbappe says he will leave PSG at end of season
Usmani felicitates Sardar Saleem on taking oath as Punjab Governor
DC for provision of facilities to people in Lasbela
Solar storm could bring auroras, power and telecoms disruptions
Court grants interim bail to PTI leaders
Ulema, Mashaykh call for political accountability, collaboration for Pakistan's ..
SHRC asks NADRA to issue CNICs to transgender as per law
Flash floods kill 50 in one day in north Afghanistan
CDA chief expresses commitment to promoting modern-day technologies
By wide margin, UN General Assembly votes to back Palestinian bid for membership ..
Musadik slams PTI's political approach as provocative
More Stories From Business
-
Mongolian envoy for boosting bilateral economic ties
7 hours ago -
SBP provides practicable foundation for elimination of Riba: chief manager
8 hours ago -
Rupee gains 08 paisa against US dollar
9 hours ago -
Pakistan, Korea sign Aide-Mémoire for Enhanced Development Cooperation 2024-2026
9 hours ago -
European stock markets hit record highs on rate cut hopes
9 hours ago -
Steps being taken for uplift of industries, socioeconomic conditions: SACM
8 hours ago
-
Meezan Bank, Roche Pakistan join forces to combat breast cancer
10 hours ago -
Salim calls for utilizing Turkish expertise in PIA's privatization
10 hours ago -
PSX stays bullish, gains 427 more points
10 hours ago -
Pakistan committed to promote green investment: Aurangzeb
10 hours ago -
Short-term inflation eases by 1.39 percent
12 hours ago -
Gold rates increase by Rs.4,600 to Rs 243,800 per tola
12 hours ago