Three Firms Find Tight Gas in Pakistan
Three oil and gas companies have discovered tight gas and have submitted third party certification to verify their claims, Pakistan’s Ministry of Petroleum and Natural Gas said.
The government has already promulgated Tight Gas Policy in May 2011 with the objective to accelerate exploration, development and production of gas from existing gas reservoirs that are not being produced due to non-commerciality.
Under Shale Gas Framework, higher incentives will be offered to the companies to invest in exploration, development and production of shale gas reserves.
The ministry also clarified that reports that Pakistan Petroleum has invited fresh bids to auction licenses to explore and develop several blocks in KPK and Sindh with huge shale and tight gas reservoirs is not correct.
It added that only Directorate General Petroleum Concessions, Ministry of Petroleum & Natural Resources can award licenses for exploration, development and production of hydrocarbons, including shale and tight gas, and not Pakistan Petroleum which itself is an upstream public sector exploration company.