Dr. Asim Hussain, Minister for Petroleum & Natural Resources has expressed confidence that the new Petroleum policy 2012 provides significant incentives for Exploration and Production (E&P) Companies operating in Pakistan’s Oil and Gas sector.
He said while addressing a meeting here on Tuesday that E&P companies should take advantage from the incentives offered in the new Policy.
To reduce the prevailing demand and supply gap, the E&P companies have been successful in discovering new hydrocarbon reserves. Encouraged with the steps taken by the Ministry of Petroleum & Natural Resources to enhance indigenous production, E&P companies have made following discoveries during 2012.
United Energy Pakistan Ltd has made discoveries in their Badin Blocks that include Gharo-1 Oil and Gas discovery in July, 2012 which is producing 520 Barrels of Oil per day (BOPD) and 0.03 Million Cubic Feet per Day (MMCFD) gas, Mohano-1 discovery in February, 2012 which is producing 300 BOPD and 0.03 MMCFD gas. Pir Apan-1 discovery made in March, 2012 producing 375 BOPD and 18 MMCFD gas, Piraro Deep-1 discovery made in April, 2012 which is producing 483 BOPD and 15.2 MMCFD gas, Nurpur Deep-1 gas discovery in May, 2012 producing 4.5 MMCFD gas, Mulaki-1 Oil and Gas discovery in July, 2012 which is producing 25 BOPD and 7 MMCFD gas, Shekhano-1 discovery made in August, 2012 that is producing 84 BOPD and around 17 MMCFD gas.
