Eni: The President Pakistan, Pervez Musharraf, and the Eni CEO, Vittorio Mincato, inaugurate the Bhit gas field

abarrelfullabarrelfull wrote on 08 Jul 2012 08:41

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October 6th 2003

The President of the Republic of Pakistan, Pervez Musharraf, inaugurated today the Bhit's gas field, one of the most important in the Country, located 180km north of Karachi in the Kirthar region of Pakistan. The inauguration ceremony was attended by the Eni delegation led by the CEO Vittorio Mincato, the Country's Highest Authorities and the joint venture partners.

The Bhit's field, operated by Eni with a 40% working interest – others partners are Shell (28%), OGDCL (20%) and Premier-Kufpec (12%) –, has reserves of 172 million boe. The gas produced in the six wells (47,000 boe/d) is sold to the State Company Sui Southern Gas Company (SSGC) for the domestic market through 20-years life "take or pay" contracts. The investment for the project's development is about 241million dollars, of which 96million is Eni's share. "The discovery of the Bhit's field made in 1997 – the Eni CEO Vittorio Mincato claimed – is a milestone for the oil research in Pakistan. After this finding, exploration is having a new impulse and further discoveries have been made. Eni has completed the project in the estimated time frame, thanks to the important support given by the Pakistani Government, by employing advanced technologies, world-class technical skills and with the massive participation of the Country's industry. The development of Bhit is a model of collaboration among international companies, national Government, local Authorities and Communities". Eni is the first foreign gas producer in Pakistan, with over 38,000 boe/d and 5 producing fields, Bhit, Kadanwari, Miano, Sawan e Zamzama. Moreover, the projects' definition for the development of Badhra and Rehmat is ongoing. The objective is to increase Eni's production in the Country, so as to be over the target of 50,000 boe/d by the 2004.

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