ISLAMABAD
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi Monday, said oil and gas exploration companies had made five new discoveries during last four months, bringing the total number of finds to 98 in last four years.
“All these finds have been made in Sindh province, which will produce $ 150 million worth oil and gas annually as compared to present prices of the commodities being imported,” he said while addressing a news conference here in the capital city.
The discoveries made by oil and gas companies, including OGDCL, PPL, MPCL and OMV Pakistan, would produce 70 mmcfd gas and 636 barrels of oil per day.
He termed the increased number of discoveries a ‘record’ set by the present government in a short span of four years, which so far added 944 million cubic feet per day (MMCFD) gas in the transmission network across the country.
He said the government was making all-out efforts to further accelerate oil and gas exploration and production activities in potential areas to achieve self-sufficiency in the energy sector.
The minister set aside the impression that article 158 of the constitution was not being implemented in letter and spirit, saying “In 2010, before the 18th constitutional amendment, SNGPL was getting supply of 1665 mmcfd gas for distribution in Punjab and Khyber Pakhtunkhwa provinces, which has reduced to 1120 mmcfd gas after the amendment.”
Answering a question about Sindh Chief Minister’s statement regarding the cut in provincial gas supply, Abbasi said he was ready to hold a public debate on the issue and reiterated that provinces were getting their due share under the 18th amendment.
Replying to a question, the minister said 1.5 million new gas connections had been issued by the current government so far, and before its tenure’s completion, the number would reach two million. “It is the hallmark of the government that all gas connections have been issued on merit and turn” he said.
When the government came into power in 2013, he said there was the backlog of two million applications for gas connections, which the company was now clearing gradually.
To another question, Abbasi said currently 600 mmcfd Liquefied Natural Gas (LNG) was being imported, which greatly helped in meeting the country’s energy requirements as all gas-based power generation plants were now functioning fully.
He said that LNG import from Qatar would not be affected in the prevailing political situation in Gulf, except any ‘Force Majeure’ situation or any international sanction with regards to LNG export for Qatar. “It is not only Pakistan that is importing LNG from Qatar rather our neighbours and nine big economies of the world are the commodity importers.”
When asked to comment on circular debt of the Pakistan State Oil (PSO), he said the debt has reached Rs 200 billion, and now there was no fear of default.
Answering a question, Abbasi said in Khyber Pakhtunkhwa around Rs 7 billion’s gas was being stolen annually and provincial government was doing nothing for its prevention.
