ExxonMobil to commence drilling on 6th

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This is the first time that any company in Pakistan would drill in the sea to explore oil and gas

ISLAMABAD: The drilling equipment of ExxonMobil, the world largest oil and gas company, has arrived at the Karachi port for exploration of oil and gas.

Information available with Pakistan Today revealed that three supply vessels have arrived at the Karachi port after the gap of nearly three decades.

They are expected to commence drilling (230km inside the sea) on January 6. This is the first time that any company in Pakistan would drill in the sea to explore oil and gas.

Meanwhile, the cabinet on Wednesday gave an exemption from taxes to companies and joint venture partners that are party to any production sharing agreement with the government for offshore petroleum exploration and production activities.

The international oil exploration company, ENI, in its press release, had stated that the company along with ExxonMobil would commence the process of drilling of an ultra-deep well in Kekra I this month and that it would be executed within a specific weather window. The equipment of both companies comprises of three platform supply vessels (PSVs), two helicopters and one drillship.

Earlier, in the last week of November, the ExxonMobil chief executive, in a letter sent to the Board of Investment, stated that ExxonMobil has been assessing its re-entrance into Pakistan for quite a while and has been assiduously hunting energy-related opportunities for past few years.

ExxonMobil has made major strides to re-enter the Pakistani market which included acquiring a 25pc stake in offshore drilling in May last year.

Previously, Italian energy giant ENI, Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) held 33pc shares each in offshore drilling in Pakistan.

4 COMMENTS

  1. RIP journalism. Lets take out some bold mistakes !!!
    1. “Eni Pakistan” a subsidiary of Eni SpA will commence & operate this drilling operation. Exxon mobile, OGDCL & PPL are non-operating JV stake holders.

    2. Drilling Equipment belong to Eni SpA. Specificslly drillship: Saipem 12000.

    3. This is NOT the first time that any company in Pakistan would drill in the sea to explore oil and gas. Previously, TOTAL, a french Oil exploration Co. has drilled a deep sea well in year 2003-04.

    It is disappointing how journalists write without proper investigations.

  2. “ExxonMobil has indicated that it is close to hitting huge oil reserves near the Pak-Iran border, which could be even bigger than the Kuwaiti reserves.”

    Kuwait has more than 104 billion barrel reserves… This should be breaking news all over Pakistan… Why are we not seeing anything on the news?

    • Check the sea in google maps on the shores of sindh and balochistan. All dark! What is it hiding beneath it that it is so dark? Obviously HUGE OIL RESERVES! the big powers don’t want us to take benefit of it. Pakistan and Pakistanis must get aware and demand their rights for utilizing those reserves otherwise soon again some big company might sign an agreement with corrupt leaders and all this news will vanish with the oil reserves.

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