Pakistan shale gas reserves estimated at 51 trillion cubic feet ISLAMABAD, June 6 (APP): Pakistan has estimated shale gas reserves of 51 trillion cubic feet (TCF) as compared to conventional gas reserves estimated at 58 TCF. The massive shale gas reserves in Pakistan have been estimated by US Energy Information Administration (EIA). According to a report, currently, no Shale gas is being produced in Pakistan and significant work is required to kick start this high potential energy source. Shale Gas is extracted directly from a sedimentary source rock and since it has low permeability as compared to conventional reservoirs, it did not come out easily and hence specific investments and pricing were required for its exploitation. According to official sources, an investment of about $1.5 billion was required for about 500 exploration and development wells because such projects were capital intensive and required high level technological expertise. The approval of the shale gas policy framework was a major initiative of the government that would bring into production a major portion of 51 TCF shale gas reserves - an unconventional and technically difficult resource. According to a study conducted by a group of gas exploration and production companies, shale gas production would become economical at about 80 per cent of Brent Crude but this would have to be brought down to 70 per cent of Brent Crude Oil. Development of shale gas is initially expected in upper Sindh and Lower Punjab and the government would be offering a few areas through international competitive bidding as pilot projects. The bidding firms would be selected on the basis of “lowest price and highest work programme and investment.” According to Shale Gas Policy Framework, it was expected that new fields will be predominately smaller gas fields as major fields have already been developed or exploited.
Posted on: Thu, 06 Jun 2013 18:48:37 +0000
Trending Topics
Recently Viewed Topics
© 2015