Oil production declined 9%, gas remained flat at 4,000 mmcfd in FY16

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Pakistan’s oil production went down by 9 per cent with an averaged 87,000 barrels per day (bpd) in 2015-16 versus 95,000 bpd in the corresponding period last year.

On the contrary, total gas production stood flat at an average of 3,939 mmcfd in 2016-17. Hence, cumulative hydrocarbon production in Pakistan remained flat at an average of 789,000 barrels of oil equivalent per day (boed). This decline is due to depleting oil reserves and absence of any major oil discovery, the analysts said.

POL achieved 5% growth in total production

With marginal decline in average oil production and 8 per cent jump in average gas production in 2015-16, cumulative production of Pakistan Oilfields (POL) stood at an average of 20,000 boed in 2015-16 versus 19,000 boed in 2014-15. The company benefited from an increase in production in Tal block (21 per cent working interest) where average gas production increased by 7 per cent to 283 mmcfd. Production from a new field, Jhal Magsi South (5 per cent of POL’s total gas production) also boosted POL’s gas production.

PPL’s production up 4%

Pakistan Petroleum Ltd (PPL) cumulative hydrocarbon production was up by 4 per cent to around 170,000 boed in 2015-16, as compared to 164,000 boed in the corresponding period last year. Oil production stood at 14.8k bpd in 2015-16 versus 14.9k bpd in 2014-15. Supported by an increase in production in Tal block (28 per cent working interest), PPL’s gas production was up by 5 per cent to 873 mmcfd in 2015-16.

OGDC’s total production remained flat

Oil and Gas Development Company (OGDC) recorded flat production of an average 243,000 boed in 2015-16. OGDC’s oil and gas production trailed behind on account of depleting reserves of its old fields that outweighed the additional flows from new findings. For instance, Nashpa that accounts for 26 per cent of OGDC’s total oil production witnessed a noticeable decline of around 1000 bpd, down 9 per cent, while production from Kunnar/Pasakhi Deep was down 3 per cent to 4.2 bpd in 2015-16. Some technical issues at Uch and Qadirpur fields (OGDC’s two major gas fields that cumulatively add around 47 per cent to its total gas production) offset the addition from new projects.

1 COMMENT

  1. i would beg to differ that the production is going down due to diminishing reserves.. the reality is that all companies are facing security issues in the remote places that the oil is produced as well as government bodies that don't facilitate the companies.

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