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Page added on August 8, 2018

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Exxon Said to be Close to Hitting ‘Huge’ Oil Reserves Near Pak-Iran Border

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ExxonMobil is “very hopeful” of success in discovering a “big cache” of oil off the Indus Delta, the Pakistan minister for maritime affairs and foreign affairs, Abdullah Hussain Haroon, has said in a press statement.

“ExxonMobil has purchased a block of Pakistani deep sea drilling rights off the Indus Delta for exploration. Their drilling is yet to start as depths are very intense but they are very hopeful of success in discovering a big cache of oil,” Haroon said in the statement.

An ExxonMobil spokesperson told Rigzone that ExxonMobil Exploration and Production Pakistan B.V. had signed an agreement to acquire a 25 percent interest in Block G offshore Pakistan.

“Eni Pakistan Limited will continue to be the operator. The block is located approximately 143 miles (230 kilometers) off the coast of Pakistan in water depth of about 6,200 feet (1,900 meters),” the spokesperson said.

“We will work with our partners and the government of Pakistan to evaluate the full exploration potential of this large offshore block,” the spokesperson added.

In its second quarter results announced last month, Exxon reported estimated earnings of $4 billion, compared with $3.4 billion a year earlier. During the quarter, the corporation distributed $3.5 billion in dividends to shareholders.

Oil-equivalent production was 3.6 million barrels per day, down seven percent from the second quarter of 2017. Natural gas volumes decreased 10 percent, excluding entitlement effects and divestments, largely due to a continuing shift in U.S. unconventional development from dry gas to liquids and to downtime in Qatar, Australia, and Papua New Guinea.

RIGZONE



11 Comments on "Exxon Said to be Close to Hitting ‘Huge’ Oil Reserves Near Pak-Iran Border"

  1. twocats on Wed, 8th Aug 2018 10:45 am 

    I’m assuming they’ve at least got some high-tech mapping technology that gives them this confidence that makes them “very hopeful”. Or it could just be the Pakistan minister of… maritime and foreign affairs?wtf?!!?? saying that – and he sounds like a used car salesman.

  2. Boat on Wed, 8th Aug 2018 11:13 am 

    2 cat

    Not they but exxon has the tech to find oil 143 miles from shore 62,000 ft deep. Pakistan is not exceptional in finding oil. They will chant death to the US but beg and pay for the tech to be exploited. like most of the world.

  3. Fruit Cake on Wed, 8th Aug 2018 4:07 pm 

    Huge oil reserves ? How much ? A billion barrels ? 10 days of world supply.

  4. Outcast_Searcher on Wed, 8th Aug 2018 7:21 pm 

    Boat, 6200 isn’t 62,000.

    No real data. Sounds like posturing by a politician. No point in speculating until reserves are actually verified to be there in “huge” amounts.

    If the US is going to be aggressive and pervasive militarily, they are going to piss a lot of people off. Why should that be surprising?

    Frankly, I’d rather have the US military and the military contractors using the money to build and repair US infrastructure than bothering other countries, unless we’re actually attacked.

  5. Boat on Wed, 8th Aug 2018 8:36 pm 

    Outcast

    Not sure what Exxon drilling for oil has to do with the US military.

  6. GregT on Wed, 8th Aug 2018 10:23 pm 

    Boat,

    “Not sure what Exxon drilling for oil has to do with the US military.”

    Here, this might help. Look closely at the bottom right hand corner.

    https://escapeesblog.files.wordpress.com/2012/02/iran-surrounded-by-us.jpg

  7. Anonymouse1 on Wed, 8th Aug 2018 11:08 pm 

    Not sure what boatretard’s mental diarrhea and brain farts have got to do with anything, at all.

  8. makati1 on Thu, 9th Aug 2018 1:34 am 

    Now you can see why the Us is getting frantic because both Iran and Pakistan are moving towards China and Russia and away from the empire.

    And, no, I am not going to reference articles for the lazy here. Look them up yourself.

  9. pointer on Thu, 9th Aug 2018 4:38 am 

    “yet to start” “very hopeful”

    Enough said.

  10. Boat on Thu, 9th Aug 2018 3:59 pm 

    Mak

    Pakistan didn’t look towards China or Russia. They looked for Exxon. Now why would they do that. Oil maybe? Total lack of oil tech confidence from Russia and China? Yep they looked for execptionals in finding and delivering oil. Americans. Hehe

  11. joe on Thu, 9th Aug 2018 4:15 pm 

    What wins in Pakistan is corruption, Russia and China beats the shit out of them at that. Simply put, they don’t want to be butt raped by stoner countries so they will get a company to do cause they will pay the bribes.

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