E&P companies drill 23,363 wells in 71 years

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ISLAMABAD
Oil and gas Exploration and Production (E&P) companies received 571 licences during last 71 years and drilled 2,366 exploratory and appraisal/development wells, yielding around 330 discoveries.
According to official data about the country s exploration history in oil and gas sector, as many as 40 licences were awarded to E&P companies in first ten years of Pakistan s inception from 1947-57. The companies drilled 21 exploratory and 22 appraisal/development wells.
During a period from 1957-67, as many as 60 licences were granted under which the companies drilled 74 exploratory and appraisal/development wells. While, around 51 permits were issued from 1967-77 and E&P companies drilled 30 exploratory and 26 appraisal/development wells. From 1977 to 1987, as many as 29 licences were awarded and the companies spud 84 exploratory and 230 appraisal/development wells.
During a period from 1987-97, around 126 licences were granted and the companies drilled 205 exploratory wells and 255 appraisal/development wells. As many as 170 licences were issued from 1997-2007 and the companies spud 241 exploratory and 383 appraisal/development.
In a period of 2007-2018, around 95 licences were granted and the companies drilled 381 exploratory and 514 appraisal/development wells.

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