World’s Biggest Oil and Gas Company Re-Enters Pakistan

World’s Biggest Oil and Gas Company Re-Enters Pakistan After 27 Years

World’s largest oil and gas company ExxonMobil, has re-entered Pakistan after a gap of nearly three decades. ExxonMobil’s offshore deep sea drilling equipment has just reached the Karachi Port.

A source told that ExxonMobil’s offshore drilling equipment includes a SIAPAM mothership with a RIG and three supply vessels docked at Karachi Port.

These ships will start their drilling operations from Jan 6, 230 KM from Karachi coastline in open sea. The drilling activity will be done at a depth of 6200 feet. This is the first operation of ExxonMobil in Pakistan after 27 years, the company exited the country in 1991 after a change in its policy.

ExxonMobil has opened a new venture office in Islamabad on Nov. 27, 2018, to start oil and gas explorations activities in the country.

The company holds a 25 percent interest in Block G located offshore Pakistan which is operated by Eni Pakistan Limited. ExxonMobil is working with its partners and the government of Pakistan.

In Jan 2010, the first attempt was made for hydrocarbon exploration in Pakistan. Shark 1 is the first exploratory well, being drilled in Indus ‘M’ Block, located 87 KM south-west of Karachi. The Block is a joint venture (JV) between ENI with a 70 percent working interest, and PPL holding the remaining 30 percent.

Liquefied Natural Gas (LNG)

ExxonMobil and the Pakistani consortium Energas signed an agreement to support the development of a liquefied natural gas (LNG) import terminal and to support securing the supply of LNG.

The agreement is an important milestone for the project, which will help meet the country’s energy needs and drive economic growth by providing a reliable supply of cleaner-burning natural gas.

ExxonMobil is working and cooperating with all the stakeholders to help realize this strategically important project for Pakistan.