Pakistan's Minister for Petroleum and National Resources, Lieutenant General Faiz Ali Chishti opened his country's sixth oil well on the Adhi field last Thursday (16 August).
Pakistan's Minister for Petroleum and National Resources, Lieutenant General Faiz Ali Chishti opened his country's sixth oil well on the Adhi field last Thursday (16 August). Pakistan produces about four hundred thousand tonnes of crude a year, and the opening of the new well was hailed in Pakistan as the beginning of a new era in oil exploration.
SYNOPSIS: Pakistan has a ??? range of minerals , including petroleum, but drilling for oil has never been greatly developed. Partly because Pakistan has been reluctant to seek foreign investment. But now the Pakistan Petroleum Ltd., is controlled by Burmah Shell and AMOCO. Nevertheless it was Pakistan's oil minister Lt. Gen. Chishti who inaugurated the new well. His government owns 24 per cent of Pakistan Petroleum Ltd, the rest of the shares are held by the public.
When Lt. Gen Chishti pressed the button to start the drilling on Pakistan's well number six it was hailed as the beginning of the second phase of oil exploration. The last well sunk in Adhi struck oil at almost 3,000 metres (10,000 feet) and it is now being developed.
The petroleum deposits were fund in the mid 1970's and last year the oil and Gas Development Corporation announced that it intended to spend almost 4 billion rupees (400 million dollars) on development over the next five years. It is believed that about 30 more wells will be drilled during that time.