Massive Oil Discovery in Pakistan: Hype vs Reality

[RiazHaq]

Prime Minister Imran Khan has recently raised Pakistanis' hopes of ExxonMobil and ENI being on the verge of a massive discovery of offshore oil and gas reserves in Pakistan. Is this real? Or mostly hype? What is the size of these reserves? Will it be more than sufficient to meet Pakistan's current needs of over 200 million barrels of oil per year? Will Pakistan become a net exporter of oil and gas like major OPEC nations?

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Top 3 Offshore Drilling Sites in Asia-Pacific. Source: Bloomberg

Why is it taking so long to get confirmation from the companies involved? What are the technical issues in getting confirmation of these huge reserves? Why is there such a big concern about blow-out? Is it because the 1.5 billion barrels pre-drill estimate of Kekra-1 well in block G of the Indus basin off the Karachi coast? Could such a large reserve cause a major blow-out accident like the one British Petroleum had in Gulf of Mexico near Louisiana in the United States? How long will it take to fix the blow-out preventer (BOP) and complete drilling of the remaining 600-800 meters of the total depth of over 5,500 meters deep in the Arabian Sea?

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Offshore Blowout Preventer Stack. Courtesy: British Petroleum

Azad Labon Kay Sath host Faraz Darvesh discusses these questions with Misbah Azam and Riaz Haq (www.riazhaq.com)

http://www.riazhaq.com/2019/05/massive-oil-discovery-in-pakistan-hype.html

 

[Reason]

How is this oil discovery going to benefit me, and not just the rich a$$holes?

 

[Irfan_balouch]

انکل جی اس سے اچھا تو موبائل کیمرے سے ہی ریکارڈنگ کر لیتے ۔ اتنے اچھے ساونڈ سسٹم میں بھی مجھے سننے اور سمجھنے میں مشکل پیش آ رہی ہے۔​

 

[insouciant]

Not in the way you or 99% Pakistanis might hope!! Nobody will get free $$$s pouring into his bank account!!

It'll create more earning opportunities for the people, but they will still have to work their ass to earn a living! Sorry to spoil your dreams, but this is how the world works!!

How is this oil discovery going to benefit me, and not just the rich a$$holes?

 

[vicahmed99]

Big fat zero.........any beneficial for common people

How is this oil discovery going to benefit me, and not just the rich a$$holes?

 

[vicahmed99]

Frankly speaking pakistan qoum bhi hud haram ho gayee hey............ in ka kaam hi powerful key tuttay chukna ho hey.........look at the examples of our political parties who they are appointing on the key positions

Not in the way you or 99% Pakistanis might hope!! Nobody will get free $$$s pouring into his bank account!!

It'll create more earning opportunities for the people, but they will still have to work their ass to earn a living! Sorry to spoil your dreams, but this is how the world works!!

 

[miafridi]

Let's hope for the best.

 

[farooqak]

If oil and gas is discovered, Pakistanis are not going to become Arab Sheikhs overnight
This discovery will reduce our oil and gas import bill of upto 15 billion dollars a year
trade deficit and dollar pressure will reduce drastically
So with reduced import bill, Pakistan will be able to save reserves which will go into payment of loans. We are in a state where we will be only returning loans to ROW for next 15 years or so

 

[Shoqe Ishtiaq]

What happened for Rehkodek Gold and Thar coal ???

 

[KhanSuppporter]

Big fat zero.........any beneficial for common people

If a country has cheap energy sources, here are some of the benefits:
factories start to run 24/7
no load shedding
most people have jobs
Electric bills can go down, way down.
Is this not enough for a common man?

 

[vicahmed99]

Theek hey bhai jaan aap sahih keh rahey hein......lekin jab ooper corrupt mafia betha hey phir hardly us koi affect ho ga..................look at $60 Billion borrowed by two corrupt regimes and what fruit common person is getting

If a country has cheap energy sources, here are some of the benefits:
factories start to run 24/7
no load shedding
most people have jobs
Electric bills can go down, way down.
Is this not enough for a common man?

 

[BrotherKantu]

اوپر سے نیچے تک سب جھوٹ بولتے ہیں.

اس بے غیرت قوم کے منہ پر جو تھپڑ لگاۓ یہ اس کی عزت کرتے ہیں.

عزت نفس سے عاری قوم

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Frankly speaking pakistan qoum bhi hud haram ho gayee hey............ in ka kaam hi powerful key tuttay chukna ho hey.........look at the examples of our political parties who they are appointing on the key positions

What happened for Rehkodek Gold and Thar coal ???

 

[Reason]

Not in the way you or 99% Pakistanis might hope!! Nobody will get free $$$s pouring into his bank account!!

It'll create more earning opportunities for the people, but they will still have to work their ass to earn a living! Sorry to spoil your dreams, but this is how the world works!!

That mey be how the world, but not how Pakistan works. $$$ will start pouring to the already rich and powerful, not to people working their asses off. And those $$$ will go outside Pakistan, instead of staying within Pak. Sorry to rain on your oil parade.

 

[ram lal]

Bari khushi hui.