Pakistan Ranks 6th In Asia Pacific Gas Reserves

[free thinker]

Pakistan ranks 6th in Asia Pacific: Gas reserves

By Our Staff Reporter

KARACHI, March 25: Based on 2004 data of remaining recoverable reserves, Pakistan with gas reserves of 28tcf (current reserves 32.8tcf) ranks 6th in the Asia Pacific region.

The country offers huge oil and gas potential and vast relatively unexplored acreage, with historical success ratio of 1:3.4. “The major portion of hydrocarbons is untapped,” says a JS Capital Markets report on “Pakistan’s gas reserves and gas fields” released on Wednesday.

The report notes that rising energy consumption level is an indication of growing economic activities in a country. Pakistan’s primary energy supplies have grown at 5.2 per cent CAGR to 55.5mn toe during FY01-05. Currently, 72 per cent of total energy requirements are met through indigenous production while the rest is imported. Natural gas remains the mainstay of primary energy supplies, covering 50 per cent of the domestic energy mix in FY05. Local gas demand is met entirely through indigenous resources.

The report indicates the country’s exploration acreage has found to have greater prospects for gas than that of oil.

In the last five years (FY01-05), Pakistan’s remaining recoverable gas reserves have grown at a CAGR of 6 per cent and reached 32.8tcf in FY05. “This is quite an encouraging growth if one considers the rise in gas production level that has depicted 10 per cent CAGR in this period,” say analysts, adding that against this, balance recoverable reserves of oil have registered a CAGR of four per cent.

According to the Energy Year Book 1998, Pakistan’s wide sedimentary basin has a potential of 200tcf of natural gas.

As per the Energy Year Book 2005, Pakistan’s total gas reserves stood at 51.5tcf of which 18.7tcf have already been utilized and thus 32.8tcf are remaining recoverable reserves.

At current production rate, Pakistan possesses gas reserves for the next 24 years assuming no discovery takes place in the future.

Compared to this, country’s oil reserves are expected to last for the next 13 years at current production level and assuming no replacement in future.

Gas reserve replacement ratio (calculated using reserves additions divided by production) has been encouraging in the past, with last five years average arrived at 237 per cent and is also quite better than the oil reserve replacement ratio of 92 per cent.

According to the JSCM report, Uch gas field (operated by OGDCL) ranks top, with remaining recoverable reserves of 4.61tcf. It is followed by Sui (3.98tcf), Mari (3.84tcf), Qadirpur (3.77tcf), Sawan (2.05tcf), Zamzama (1.95tcf), Kandra (1.73tcf), Manzalai (1.4tcf), Bhit (1.35tcf), Bhit (1.35tcf), Mari Deep (1.21tcf), Kandhkot (0.73tcf), Miano (0.72tcf), Makori (0.70tcf), Pirkoh (0.65tcf), Dhodak (0.56tcf), and others (3.55tcf). These fields cumulatively occupy the major chunk of around 90 per cent of the known balance gas reserves of Pakistan.

http://www.dawn.com/2006/03/26/ebr7.htm