ISLAMABAD: Key industry players including OGDCL, PPL, MPCL and GHPL have come together to launch the Pakistan Basin Studies (PBS) 2024 initiative mainly to evaluate and quantify the remaining oil and gas exploration potential in Pakistan.
According to official sources of petroleum division, the Pakistan Basin Studies initiative is a major project aimed to uncover the oil and gas potential across the country. This project will be overseen by the Directorate General of Petroleum Concessions (DGPC) under the Ministry of Petroleum Division.
The PBS 2024 initiative, fully funded by these industry giants, marks a pivotal step in the nation’s efforts to unlock untapped hydrocarbon resources. With an initial timeline of three years, the project is set to commence in September 2024. This endeavor builds upon the groundwork laid by the OGDCL Basin Studies conducted in 2008. However, PBS 2024 will take a more detailed and comprehensive approach, incorporating Play-Based Exploration (PBE) and yet-to-find (YTF) strategies to assess the potential of the country’s sedimentary basins.
The project (PBS) will be executed in a phased manner, beginning with a focus on offshore areas, particularly the Indus and Makran basins, which are considered to be highly promising. These regions, located off the southern coast of Pakistan, have long been speculated to harbor significant hydrocarbon reserves. The initial phase will pave the way for subsequent studies that will extend across a broad spectrum of Pakistan’s sedimentary basins, including the Lower, Central, and Upper Indus Basins, Potohar & Kohat, Kirthar and Suleman, Pishin, and Balochistan Basins.
The consortium has awarded the contract for conducting this vital work to D&M Consultants, a renowned U.S.-based firm specializing in geological and geophysical analysis. D&M’s team, comprising both international and local experts, will be headquartered at Petroleum House in Islamabad. The firm’s involvement underscores the project’s high level of technical expertise and global relevance.
D&M Consultants will conduct a thorough examination of all available geological and geophysical data. Their analysis will encompass both onshore and offshore sedimentary basins, aiming to generate an updated and accurate forecast of Pakistan’s oil and gas resource potential. The comprehensive nature of this study is expected to yield crucial insights, offering a clearer understanding of the country’s remaining hydrocarbon reserves.
It is pertinent to mention that the anticipated outcomes of the PBS 2024 initiative are not only expected to refine the understanding of Pakistan’s energy potential but also to drive renewed interest and investment in the sector. By highlighting the remaining oil and gas reserves, the study aims to boost investor confidence, potentially attracting increased foreign direct investment (FDI) into Pakistan’s oil and gas industry. This, in turn, could have far-reaching implications for the country’s energy security and economic growth in the coming years.
