The Senate was informed on Friday that daily production of raw gas in the country at present is 4,273 million cubic feet per day against the demand (MMCFD) of 5,416 MMCFD.
The Senate resumed its session with Chairman Syed Nayyar Hussain Bukhari in the chair
Advisor for Petroleum and Natural Resources Dr Asim Hussain told the House during the question hour that currently one hundred and thirty two exploration licenses for exploration of oil and gas reservoirs are being operated by various exploration and production companies.
He said sixty blocks for exploration of oil and gas reservoirs have been advertised for award of exploration licenses on competitive terms. For fiscal year 2012-13 forty four exploration wells have been planned for exploration of oil and gas reserves.
Asim Hussain said Council of Common Interest (CCI) has approved ‘Tight Gas Exploration Policy‚ 2011’ which offers forty to fifty percent premium over the respective zonal price of Petroleum Policy 2009.
He said Economic Coordination Committee (ECC) has approved Low BTU Gas Pricing Policy 2012 wherein additional incentives to the investors have been given to develop Low BTU fields as soon as possible. He further said in offshore, fourteen exploration licenses have been awarded for exploration of oil and gas reservoirs.
He said the government is taking a number of steps to overcome the shortage of gas in the country including enhancement of indigenous gas production‚ import of LNG and promotion of LPG air mix.
To a question‚ he said it is the PM’s prerogative to announce the supply of gas to any area.
Jahangir Badar presented before the House the Annual Report for the year 2011-12 of the Central Board of Directors of State Bank of Pakistan on the state of Pakistan’s Economy.
Law Minister Farooq H Naek introduced before the House “The Constitution of Islamic Republic of Pakistan 24th (Amendment) Bill‚ 2013”.
The chair referred the bill to the Standing Committee concerned.
