Karachi (Agencies): Special Assistant to Prime Minister on Petroleum Nadeem Babar has confirmed that the 17th attempt to find hydrocarbons off the shore of Pakistan has been futile as no oil and gas reserves have been found.
In an interview with a private TV channel, Babar said the offshore drilling in Kekra-1 did not yield desired results after drilling more than 5,500 metres.
He said Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) also assisted Exxon Mobil and ENI in drilling the oil well.
The PM’s aide expressed that the office of DG Petroleum Concessions has been apprised of the results of the drilling.
Kekra-1 well at Indus G-Block is located around 280 kilometres southwest of Karachi coast. Kekra exploration, a joint venture of four oil exploration companies completed the offshore drilling process after four months on May 15.
The planned drilling of 5,470 meters was achieved at a cost of Rs14 billion (around $100 million), but according to reports in local media, the officials of the petroleum division maintain that the data received from the drilling and other seismic studies of the well will be useful for future exploration activities in the region and the effort did not go in vain.