Pakistan was positive and expected positive results from the well, which had a pre-drill resource estimate of about 1.5 billion barrels of oil equivalent.
Rystad added that Prime Minister Imran Khan had many expectations from the well, as he wished Pakistan to be an energy self-sufficient country.
Palzor Shenga, Senior Analyst at Rystad Energy, noted
The dry well comes as a major blow not only for the country, but also for the companies involved. The drilling campaign initially had a budget of between $75 million and $80 million, which later grew to approximately $100 million due to technical complications.
Italian major Eni, as operartor, together with US supermajor ExxonMobil and local players PPL and OGDCL as partners, drilled the Kekra-1 prospect, which Rystad Energy earlier this year ranked as one of the most promising high-impact wells of 2019 (link).
Eni chartered the Saipem 12000 in October 2018, and has the 25% in the venture and is the operator of the exploration license for the site.