Islamabad, December 29, 2012 (PPI-OT): Advisor to Prime Minister on Petroleum and Natural Resources (MPNR) Dr. Asim Hussain attended an event marking the first-ever application of Stress Field Detection (SFD) technology by Pakistan Petroleum Limited (PPL) at the Quaid-e Azam International Airport, Karachi.
In his address as chief guest, Dr. Hussain highlighted the MPNR’s consistent efforts in streamlining an enabling and investor-friendly regulatory and fiscal framework and working environment for the oil and gas sector. “As evident by our recent initiatives, which include the 2012 Petroleum and Tight Gas policies and the road shows held to draw foreign investment, the Government is determined to transform the oil and gas industry into a fully integrated energy enterprise, using the best available technology. Bringing in this technology is a step in that direction.”
He added that SFD could not have come at a better time in the country as MPNR prepares for a new bidding round, offering 60 blocks, enhancing available acreage of exploration areas.
Developed by NXT Energy Solutions (NXT), a geophysical service company based in Canada, SFD is a proprietary cutting edge, eco-friendly airborne reconnaissance method to identify potential hydrocarbon traps and reservoirs in a time- and cost-effective manner, especially in unexplored on- and off-shore frontier regions with limited access and infrastructure. SFD is expected to be particularly useful in the current energy scenario, warranting fast track identification of, and production from, relatively deeper, more complex reserves of hydrocarbons to bridge the supply-demand gap.
Welcoming the guests, PPL’s Managing Director and Chief Executive Officer Asim Murtaza Khan underscored the increasing importance of deploying latest exploration technology to meet production and reserves replacement targets to address the current deficit and ensure future energy security. “SFD technology has been successfully applied by leading oil and gas companies in North America, Colombia and other countries. PPL is proud to be the first company to apply the technology in Pakistan.”
Khan thanked the MPNR, Ministry of Defence, Civil Aviation Authority and NXT for their assistance in bringing SFD technology into the country. He particularly acknowledged Dr. Hussain’s key role in making the import of SFD technology possible through his personal involvement and efforts in coordination with relevant stakeholders.
For more information, contact:
Ministry for Petroleum and Natural Resources
Tel: +9251 921 0220 -9206416
Fax: +9251 921 3180