KARACHI: The Petroleum Division has tasked Oil and Gas Development Company Limited (OGDCL), a premier oil and gas exploration and production company, to undertake the first shale pilot project next month.
The USAID study conducted in 2015 stated that Pakistan holds substantial presence of shale oil/gas reserves. However, the conversion of these resources into reserves requires high investments with inherent risks.
It is only an initial evaluation being carried out on a trial basis. The lease area for this study is Kunnar and Pasaki fields.
It is only after the results of this shale pilot project are concluded that the Petroleum Division would be in a position to assess the potential of these Shale reserves. Relevant updates in this regard would be shared as and when required or made available. The Petroleum Division has called for avoiding conjectures in the matter.
Pakistan has 95 TCF shale gas and 14 billion barrel oil which are recoverable. The federal government is evaluating the potential in shale sector as it requires big investment but also has environmental impact. There is no national policy on shale gas.
