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Breaking News: PAKISTAN Oil Discovery

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#1 [Permalink] Posted on 7th August 2018 17:19

https://oilprice.com/Energy/Crude-Oil/Pakistan-Exxon-Is-Close-To-Making-A-Mega-Oil-Discovery.html


ExxonMobil is close to discovering huge oil reserves in Pakistan near the border with Iran, and those reserves could even be larger than the oil reserves of Kuwait, the Pakistani Minister for Maritime Affairs and Foreign Affairs, Abdullah Hussain Haroon, said over the weekend.

Addressing business leaders at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Haroon said that Exxon had drilled for oil close to the Iranian border and that the U.S. supermajor was optimistic about the oil find.

“Foreign investors are interested in coming to Pakistan, provided we manage to meet their standards and attract them to make investment,” the Pakistani minister said in a press release published by the FPCCI.

According to Arab News, if the oil discovery in Pakistan turns out to be as large as expected, the country would rank among the world’s top ten oil producing countries, ahead of Kuwait.


Kuwait’s total proved oil reserves were 101.5 billion barrels at the end of 2017, according to the BP Statistical Review of World Energy 2018. The Kuwaiti reserves account for 6 percent of the world’s total proved oil reserves, putting Kuwait among the top ten countries in terms of largest oil reserves per country after Venezuela, Saudi Arabia, Canada, Iran, Iraq, and Russia.

In Pakistan, ExxonMobil signed an agreement in May this year to take a 25-percent working interest in the Indus Block G offshore Pakistan, where the other partners in the block are Italy’s major Eni and Pakistan’s Government Holdings Pvt Ltd and Oil and Gas Development Company Limited (OGDCL).

According to Arab News, Pakistan currently meets just 15 percent of its petroleum demand with domestic crude oil production, while 85 percent of its demand is met with imports. With the high imports, and the higher oil prices in recent months, Pakistan faces a large current account deficit and spends a substantial portion of its foreign exchange reserves on importing oil.

Mubarak to everyone in Pakistan and may Allah Ta'ala grant Pakistan and its people the prosperity and the ability to use the blessings in the cause of Islam (Ameen).

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#2 [Permalink] Posted on 7th August 2018 17:32
hmm hope it doesnt lead them from one fitna to the other. arabs have lost their deen due to their wealth and arrogance whilst sub continent lose theirs through poverty and ignorance. but if they do have this much oil and IK is in charge i am hopeful the wealth will be more evenly and fairly distrubted unlike gulf nations were just a few actually see the money from it
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#3 [Permalink] Posted on 7th August 2018 19:44
According to another newspaper,it is possibly a fake news :

“Firstly, ExxonMobil is not operating in Balochistan province and is not involved in any exploration. It is only working on an offshore field with ENI, PPL, and OGDC with a 25 percent interest.”

“Secondly, Pakistan Petroleum Information Service, which keeps a record of explorations in the country, has not mentioned the ‘so-called’ discovery of huge oil reserves on its website.”

“ExxonMobil has major experience in the realm of offshore drilling, however, it has neither listed Pakistan on its website nor shared the news about the discovery of ‘huge oil reserves’ near the Pak-Iran border.”

The oil discovery is reminiscent of the major reserves of gold, silver, copper and iron ore which were claimed to have been discovered from Punjab’s Chiniot district in 2015.

At that time, then Prime Minister Nawaz Sharif, chief minister Punjab Shehbaz Sharif and notable scientists felicitated the nation, with a hope that the minerals would boost the economy of the country, however, what happened to the discovery, is still unknown to many.

So good luck to Pakistan if it is true,but it does not look exactly right...
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#4 [Permalink] Posted on 7th August 2018 21:19
Let's hope they didn't just dig into an existing pipe!
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#5 [Permalink] Posted on 7th August 2018 22:54
salaam

so is this fake or real?

can anyone confirm? where is siprahomer???
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#6 [Permalink] Posted on 8th August 2018 03:23
xs11ax wrote:
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Haha! How could I know?
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#7 [Permalink] Posted on 8th August 2018 03:28
I just remember few years back, in a tv program Imran Khan was talking about large oil reserves in Pakistan, larger than Iran and some other oil rich countries combined. I don't know whether it was patriotism or reality.
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#8 [Permalink] Posted on 8th August 2018 03:35
However, even if it's real, the question is "Will it solve our problems?"

Tariq ibn Shihab reported: Umar ibn Al-Khattab, may Allah be pleased with him, said, “Verily, we were a disgraceful people and Allah honored us with Islam. If we seek honor from anything besides that with which Allah has honored us, then Allah will disgrace us.”

Source: al-Mustadrak 214
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#9 [Permalink] Posted on 8th August 2018 08:18
sipraomer wrote:
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go there and take a look. report back.
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#10 [Permalink] Posted on 8th August 2018 09:26
xs11ax wrote:
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lol! You are funny.
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#11 [Permalink] Posted on 8th August 2018 09:39
Don't get ahead of yourselves

The Minister in a statement issued for press said ExxonMobil had purchased a block of Pakistan's deep sea drilling rights off the Indus Delta for exploration.

"Their drilling is yet to start as depths are very intense but they are very hopeful of success in discovering a big cache of oil," he said in a statement issued to press.
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#12 [Permalink] Posted on 8th August 2018 10:25
OP Updated upon request.
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#13 [Permalink] Posted on 8th August 2018 20:49

ALIF wrote:
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fp.brecorder.com/2018/08/20180808397703/


Caretaker Minister for Maritime Affairs and Foreign Affairs Abdullah Hussain Haroon on Tuesday clarified a news item published in a section of press, saying that his statement on oil drilling by ExxonMobil should be taken without implying any further meaning to it. The Minister in a statement issued for press said ExxonMobil had purchased a block of Pakistan's deep sea drilling rights off the Indus Delta for exploration.


"Their drilling is yet to start as depths are very intense but they are very hopeful of success in discovering a big cache of oil," he said in a statement issued to press. He added, "While the situation is not only good news and hopefully rewarding to Pakistan, anything further should not be added and may not be construed by my talk at FPCCI etc."


A national daily in its August 4th publication had quoted Abdullah Haroon during his address at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) as saying that ExxonMobil was close to hitting huge oil reserves near the Pak-Iran border, which could be even bigger than the Kuwaiti reserves.

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