Offshore Energy Today’s Post

📢𝐌𝐞𝐱𝐢𝐜𝐨’𝐬 𝐭𝐨𝐩 𝐨𝐢𝐥 & 𝐠𝐚𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐮𝐧𝐝𝐞𝐫 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: 𝐂𝐨𝐦𝐢𝐧𝐠 𝐭𝐨 𝐠𝐫𝐢𝐩𝐬 𝐰𝐢𝐭𝐡 𝐦𝐚𝐢𝐧 𝐡𝐲𝐝𝐫𝐨𝐜𝐚𝐫𝐛𝐨𝐧 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐨𝐛𝐬𝐭𝐚𝐜𝐥𝐞𝐬 𝐚𝐭 𝐡𝐨𝐦𝐞 𝐚𝐧𝐝 𝐚𝐛𝐫𝐨𝐚𝐝 With #economic, #geopolitical, and #energytransition woes and opportunities surronding #Mexico’s five largest upcoming #hydrocarbon projects, the Latin American country’s #energy officials offer a glimpse into the prospects for the #exploration and extraction of #hydrocarbons not only in the domestic playground but also the international one. 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐦𝐨𝐫𝐞: https://buff.ly/3Xo8FPG #oilgas #offshoreenergy #oilandgasnews #oilandgas Comisión Nacional de Hidrocarburos Photo: Zama graphic; Credit: Wintershall Dea

A positive outlook for the economists & especially for the E&P sector to have deep insight on the potential of Pakistan in terms of Tight Gas. Thanks Asrar Sb.

Montenegro: Debate over LNG terminal in Bar #FeasibilityStudy #LiquefiedNaturalGas #Lng #LngTerminal #Montenegro #NaturalGas https://lnkd.in/dcUnVB-h

Montenegro: Debate over LNG terminal in Bar #FeasibilityStudy #LiquefiedNaturalGas #Lng #LngTerminal #Montenegro #NaturalGas https://lnkd.in/dcUnVB-h

With this month's 'Energy' theme for our #AskTheExpert series, Asrar Muhammad, Vice President of Commercial and Finance at United Energy Pakistan, emphasizes the economic advantages of enhancing indigenous gas production. He discusses the cost benefits of local gas compared to imported LNG, highlighting how domestic production supports the economy through reduced expenses and governmental royalties. Muhammad further addresses the strategic importance of tapping into the nation's tight gas reserves. With an estimated potential of over 70 TCF, he underscores the need for adopting advanced drilling techniques and technologies. This includes the deployment of horizontal wells and multilateral fracks to extract gas from reserves with low permeability effectively. Tune in to learn how these strategic efforts can significantly boost Pakistan’s gas output. Muhammad Asrar’s expert insights provide a clear roadmap for bolstering economic stability and ensuring sustainable energy development, outlining the critical government policies and industry commitments needed to realize these goals. #AskTheExpert #EnergyProduction #LocalGasProduction #GasReserves #GasOutput

🚀 Green light for new #deepwater #oil project in #USA alert: 𝐁𝐏’𝐬 𝐬𝐢𝐱𝐭𝐡 𝐔𝐒 𝐆𝐮𝐥𝐟 𝐨𝐟 𝐌𝐞𝐱𝐢𝐜𝐨 𝐝𝐞𝐞𝐩𝐰𝐚𝐭𝐞𝐫 𝐨𝐢𝐥 𝐡𝐮𝐛 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐠𝐨 📢 bp has taken a final investment decision (FID) to develop its sixth-operated project in a prolific high-margin basin within the U.S. #GulfofMexico, unlocking the potential to bring online 10 billion barrels of discovered resources in place. 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞: https://buff.ly/4dm01Ya #oilgas #energy #oilandgasnews #offshoreenergy #Americanenergy #America #oilandgas #UnitedStates Photo: Rendering of BP's Kaskida offshore platform in the Gulf of Mexico; Source: Exmar Offshore/BP

The Government of Pakistan, alongside the Pakistan E&P Industry, has recently announced an overly ambitious tight gas policy, aiming to attract $165 billion in oil and gas exploration investments. This plan includes seeking $20 billion specifically to exploit untapped tight gas reserves estimated at 35 to 70 trillion cubic feet (tcf). Additionally, Pakistan claims to have 66 tcf of untapped natural gas requiring $38 billion in investment, 95 tcf of shale gas needing $54 billion, and 38 tcf of offshore gas reserves with a projected $22 billion investment. Moreover, 3.6 billion barrels of crude oil are believed to be untapped, demanding a $30 billion capital injection. Tight gas resources, being unconventional, necessitate advanced techniques such as hydraulic fracturing and horizontal drilling for commercial viability. The economics are challenging, given the high upfront costs, lower production rates, and the dependency on high natural gas prices to justify the extraction expenses. Critically, this policy is poorly timed. The global energy market is transitioning rapidly to renewable energy, driven by strict climate regulations and low greenhouse gas emission targets. Financial institutions and companies have drastically reduced funding for oil and gas projects, favoring renewable energy initiatives instead. This shift has led most international oil and gas companies to exit Pakistan, focusing instead on the most profitable and least risky projects elsewhere. In this context, the hype around tight gas resources in Pakistan appears misguided. Securing substantial foreign investment for such high-risk projects, including ultra-deep offshore wells, shale oil, shale gas, and tight gas wells, is highly unlikely. Thus, the Pakistani E&P industry’s hopes for significant funding for tight gas projects are unrealistic in the current energy transition period. #pakistan #pakistaneconomy #pakistantech #pakistanstockexchange #lahore #karachi #islamabad #oilandgas #oilandgascompanies #oilindustry #gasindustry

Montenegro: Debate over LNG terminal in Bar #FeasibilityStudy #LiquefiedNaturalGas #Lng #LngTerminal #Montenegro #NaturalGas https://lnkd.in/drjKhTmB

Need to step up

I agree with you 💯. Pakistan BURECRACY ensures that Pakistan runs 20 years behind time. The year 2000-2005 was the time to invest in Thar coal with huge Chinese funding available but NEPRA refused to give a viable tariff of $¢4.5/kWh to Shenzhen Coal company of China in 2005. Finally ENGRO entered the Thar coal business in 2018 & got a tariff of $¢8+/kWh. Only 2200 MW Thar coal based power plants installed in Thar. No more international investments will come in Thar coal business. Today we are again missing the opportunity of FDI available in wind and solar electricity generation. Not a single MW of wind and solar projects has been approved, since 2017. What a shame for PAKISTAN bureaucracy.