Exxon Mobil has started drilling with initial cost of $75 million at Indus Block, said Irtiza Syed, CEO of the oil and gas exploration company, while briefing Federal Minister for Petroleum Ghulam Sarwar Khan here on Wednesday. He said the Exxon Mobil has started spudding. The well's diameter is 18 to 24 inches. Right now they are at depth of 1900 feet, hence it is ultra-deep exploration. It will give its first good news in March or April.
Exxon Mobil has given the target depth of 5,500 feet. In March, Exxon Mobil will send a specimen to Houston for examination. Similarly, ENI will send the specimen to Milan in March. From April to May there will be a reasonable idea that this well contains oil or gas. The discovery is anticipated to yield gas flows which can be as big as of Sui field, with estimated reserves of 3 to 8 trillion cubic feet (TCF), or 25-40 percent of Pakistan's total gas reserves.
Pakistan Exploration and Production (E&P) companies along with international partners have ventured into offshore territory of under-explored but promising Indus G Block for deep sea drilling endeavour. The operator of the block, ENI has chartered Saipem, a rig ship to drill the exploration well located at 230 kilometres southwest of Karachi.
ENI is an Italian company that has been working in Pakistan since 2000.This endeavour is a joint venture (JV) formed by ENI, Exxon Mobil, OGDCL and PPL to spud Kekra I exploration well in Indus G Block.
The exploration cost is estimated at $75 million. Right now more than 200 people are working at the ship. After exploration, employment will be generated. If it will be a successful discovery, Pakistan can use this gas for next 25 to 30 years. After its success, Exxon Mobil will spud in more wells.
Till 2021 to 2022, a facility will be made here. Ghulam Sarwar Khan also invited Exxon Mobil for onshore exploration. He said that he will make ways easy for international investment. For this purpose duties and taxes have been waived off on import of drilling equipment. During the meeting, Vice President Exxon Mobil Stephen was also present.
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