﷽ Project NOVA-6/P Pakistan Oil & Gas Program 24.6 trillion cubic feet of Gas Massive Recoverable Reservoirs Since July 2015, AMCO Engineering (Pakistan); SELECTUM Plc (Pakistan); RESOCHEM Corp. (USA) and MUGHALS-RESOCHEM Corp. LLC MRC (USA) are in process of finalizing details of the Terms of Reference (ToR) of a Four Phase Fifteen Years Multi-Locations Project titled ‘NewHorizon-6 (NOVA-6) to conduct "Rigorous Resource Assessment" of Pakistan’s Organic-Rich-Shale-Resources. ToR document is being finalized keeping in view Pakistan’s Regulatory Framework and Oil & Gas Policy-2013 (amended). Project Lead Companies: AMCO Engineering (AMCO) Pakistan and MUGHALS-RESOCHEM Corp. (MRC) USA Project Lead: Principal Group Director Mr. Mahammad Afzal Mirza Although the Government of Pakistan (GoP) has announced the Gas Pricing Formula, however, the Group is waiting for GoP to legislate the Regulatory Framework. Government of Pakistan Gas Pricing Formula For Onshore: From 6.15 US $/MMBTU - To 7.0 US $/MMBTU For Offshore: Shallow = 7 $/MMBTU Deep = 8 $/MMBTU Ultra-Deep = 9 $/MMBTU  Project NOVA-6 Background
During 2014-15, following encouraging estimates provided by the US EIA, Government of Pakistan (GoP) with the technical assistance of USAID conducted field study and sent shale formation samples to USA to determine the prospects of reserves. During November 2015, after receiving input
from USAID, GoP Reconfirmed the massive recoverable deposits of
minimum 10 trillion cubic feet (TCF) of shale gas and 2.3
trillion of stock tank barrels (STB) of shale oil across the country. GoP
has signed multiple Exploration and Petroleum Concessions Agreements with
Pakistani and foreign companies. Images Source: ARIC USA  USAID Published Report During June 2007, USAID published a report titled “ENERGY SECTOR ASSESSMENT FOR USAID/PAKISTAN”. Later in June 2013, U.S. Energy Information Administration (EIA) published another 730 pages report titled “Technically Recoverable Shale Oil and Shale Gas Resources: An Assessment of 137 Shale Formations in 41 Countries outside the United States”. Based on June 2013 EIA aforesaid report, Pakistan & USAID conducted field studies and in November 2015 jointly reconfirmed that Pakistan has massive technically recoverable deposits of 10,159 trillion cubic feet (TCF) of shale gas resource and 2,323 billion barrels of shale oil.   Above Image Credit: M.E. Map - Rasoul Sorkhabi, Pakistan Map - MUGHALS      Project NOVA-6 AMCO-MRC Efforts As of February 2017, SELECTUM & ZODIAC are finalizing terms to become part of International Joint Venture (IJV) based on “Working Interest Ownership Joint Venture WIO-IJV)” with petroleum concession holders to start the ‘Rigorous Resource Assessment’ in accordance with EXIM Bank USA policies and World Bank Country Partnership Framework guidelines. Mr. Mohammad A. Mirza, Member MUGHALS Group Core Team (MGCT) and Director Special Projects Falcon Investment Group LLC (USA) is leading the efforts to structure IJV, in accordance with the applicable Laws and Regulatory Framework of Countries of Business Operations; Ethical Financing Institutions, World Bank and Professional Institutions' Best Practices Policies. Whereas, Prof. Muhammad Sharif Bhatti PhD, President SELECTUM Plc (PAK) is coordinating the efforts in Pakistan, and finalizing Terms & Reference (ToR) with ZODIAC Plc and other stakeholders. Scope of Work (Phase-1) Technology Assessment and Adoption: MATRIX preparation of potential Positive and Negative consequences of the available Technologies; Economically Viable Prospects; Cost–Benefit Analysis; Organizational Readiness; Specialized Training of Proficient Workforce ICT Platform Digital Blueprint for Reservoir Life Cycle Technical Assistance and Training Provisioning of experts in specialized areas of Carbonate Platform, Reservoir-Geology, Geophysical Seismic Data Acquisition; Processing; Modelling; Interpretation; Control; Management and Specialized Training Geophysical and Seismic Studies Regional and Basin studies integrating existing Geological, Geophysical and Well Data in Indus Basin Pakistan, and a parallel study of Petroleum Geochemistry Seismic Program Reprocessing of existing 2D Data; Acquisition and Processing of additional 5,177 square kilometer of new 3D Data; Gravity and Airmag Surveys; Equipment and Software for Geological and Geophysical surveys Exploratory Drilling
Based on results of Geophysical and Geological studies and Seismic Surveys, twelve (12) to eighteen (18) wells. About AMCO Engineering AMCO Engineering (AMCO) is ISO Certified multi-discipline Professional Engineering legal entity and is a member of Pakistan Engineering Council. During 2015, after restructuring, AMCO including Mining Sector in its portfolio and now offers a wide array of Energy; Mining; Geophysical and Seismic Services from Basin Evaluation to Enhanced Reservoir Characterization to Operational Efficiency by using reliable state-of-the-art seismic acquisition technologies and industry-leading acquisition techniques to solve complex Computational, Simulation and Visualization challenges facing Energy and Mining sectors. AMCO packages include Hardware, Software and Specialized Training for both Public and Private sectors to Study; Acquire; Analyze; Interpret; Evaluate and Simulate the Earth Progressions using Gravity; Magnetic; Electrical and Seismic methods. |
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