OMC, Austrian oil and gas company, asserted to have found out new gas reserves at the Latif exploration block in Sindh, as stated in a press release issued by the company.
The company claimed in a statement saying the Latif South-1 well had a gas throughput of 2,500 barrels of oil equivalent a day during testing.
“We are very pleased with this exploration success. The appraisal and development of this discovery will potentially enable us to enhance the production in Pakistan,” OMV Executive Board Member responsible for Upstream, Johann Pleininger, said.
“This discovery has opened up new exploration opportunities in the area,” claimed the company adding that further appraisal work is required to confirm the volume of the discovery.
OMV Pakistan, a wholly-owned subsidiary of OMV Exploration & Production GmbH, began exploration workings in the desert region of Sindh in 1991 and is amongst the largest international natural gas manufacturers in Pakistan concerning operated volumes.
Being a major investor in the oil and gas field in the region, OMV also holds a 10% stake in Pak-Arab Refinery Limited (PARCO), a joint project of Pakistan and Abu Dhabi.
Meanwhile, at the moment, Pakistan is aiming two major projects of gas import, including the Iran-Pakistan (IP) pipeline project, which will supply 750 million cubic feet of gas in each day to Pakistan and the amount would be sufficient to produce 5,000MW of electricity.