Pakistan offers great potential in Oil, Gas sectors: Dr Asim

ISLAMABAD: Advisor to Prime Minister on Petroleum and Natural Resources Dr. Asim said that Pakistan offers great potential in the oil and gas sector and the government is doing its part by introducing new policies to meet the rising energy demand .

He was presiding over a seminar organized by the Petroleum Institute of Pakistan (PIP), a representative body of the oil and gas industry, on the topic "Shale Gas Potential in Pakistan" on Saturday.

The purpose of holding this seminar was to create awareness about potential and challenges of shale gas in Pakistan and establish PIP's professional standing in view of assisting the government on dealing with the energy crises in the country.

The forum consisted of 150 distinguished guests from the oil and gas fraternity including government officials, media personnel and students from Karachi's top universities/colleges.

Dr. Asim Hussain said he has been advocating the need to balance country's energy mix, which currently is heavily dependent on natural gas.

He stated that the US Energy Information Administration have estimated 51 TCF Shale Gas Reserves in Pakistan, while as estimated reserves for Low BTU Gas are 2 TCF and that of tight gas are 40 TCF.

He added that Shale Gas exploration is high technical and costly, therefore, in order to encourage its exploration, pilot projects are planned.

The Ministry of Petroleum and Natural Resources will facilitate E&P Companies wishing to explore shale gas, by granting special concessions through transparent process and based on merit.

Chairman PIP Asim Murtaza Khan stressed on PIP's role as an effective energy sector advisory body, supporting government and industry in Pakistan to develop a progressive and sustainable roadmap to meet present and future challenges.

He said that PIP is planning to hold series of seminars in near future. The big ticket items that will be discussed and which need the immediate attention will be the "LPG Outlook in Pakistan", "Fast-tracking imports of LNG", "Refining Vision 2020", "Energy conservation" and "Restructuring of the Pakistan's gas sector".