Pakistan’s oil production rises by 10%

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Average production in the country this year has increased by a decent 10% to 71.6 k barrels as compared to 64.9k last year 2011-12.

According to the statistical data it is learnt that during 2007-08 volume of domestic oil production was 70.4k. Domestic oil production showed significant improvement in 2012 when major discovery was made from Nashpa field of Nashpa block located in KPK region.

Statistical data further revealed that fields production increased by a massive 109% to above 1k bpd as against 5.5k bpd last year 2011-12. During last year 2011-12 other major increase in domestic production of oil was from Adhi fields as its total production increased by a decent 16%.

The much discussed Tal production increased by a mere 3% despite commissioning of Makori east towards the end of the year. Though we continue to have conviction in the block’s potential but commissioning of Makori CPF (central processing Facility) holds its key.

According to the data during forward near term oil production increased to trigger after materlization production from Sinjhoro fields, makikhel-2 and maramzai-2 while improvement in production from Nashpa Adhi and Mela fields are also events to keep a track.

During last year 2011-12 despite the security concerns and circular debt restricting Pakistan Oil and Gas exploration companies to tap in new reservoirs, the sector continues to rely on maximizing the yield of existing reservoirs.