Pakistan to Auction 20 Oil, Gas Blocks
Pakistan is expected to hold bidding round for 20 oil and gas blocks next month in an attempt to boost domestic production, The Express Tribune reported September 23.
The last bidding round took place in March 2013 under the previous government. Pakistan’s energy ministry has selected 41 blocks and is now looking for approval from defence ministry, which has already given the go-ahead for 20 blocks, the newspaper reported citing government sources.
Pakistan’s domestic oil and gas production is not enough to meet demand. At present, Pakistan produces around 4bn ft3/d of gas and 86,000 barrels/d of oil, according to the newspaper. To meet domestic demand for gas, Islamabad has resorted to importing LNG, mainly from Qatar.
The south Asian nation started importing LNG in 2015 with the commissioning of FSRU Exquisite, located at Port Qasim near Karachi, which has storage capacity of 150,900 m3 and a peak regasification rate of 745mn ft3/d (7.7bn m3/yr). Recently Dutch firm Vopak said it would take a stake in that import terminal while in June Qatar's state shipowner Nakilat said it would take a stake in the FSRU itself.
Last year, Pakistan commissioned its second FSRU (floating storage and regasification unit) also located at Port Qasim. As of mid-June 2018, reports indicated that the country had imported 10mn mt of LNG since 2015.