OIL & GAS OFF-SHORE DRILLING, NEAR KARACHI, PAKISTAN.

The drilling work has reached to 5000 meters depth and nearing end to its target of 5800
meters, sources said.

Recently international energy research agency Rystad Energy in a report said that the Eni’s
Kekra project for oil and gas reserves in Pakistani waters is among three highly prospective
wells in the world.

The research agency in its report on the prospective new discoveries of energy resources said
that Kekra well in Pakistan have pre-drill prospective resource estimates of 1.5 billion barrels of
oil or equivalent.

A group of multinational companies had started offshore drilling in January at a distance of 230
kilometers from Karachi for exploration of oil and gas.

A major drilling ship, “Mother of All Rigs” along with three supply vessels started the drilling at
the site.

The companies are drilling Kekra-1 well in Indus-G block, which is located some 280 kilometres
away from the Karachi coast.

They would drill around 5,800 meters deep from the sea level and are targeting to complete
the spud in the next 60 days, sources earlier said.

Eni Pakistan is the operator of the block, while, Exploration and Production Pakistan BV
(EEPP) is drilling the well. Besides, Pakistan’s state-owned Oil and Gas Development Company
(OGDC) and Pakistan Petroleum Limited (PPL) are part of the joint venture. Each of the four
firms has 25% participating interest in the block, officials said.