Oil production touches 3-year low

KARACHI: Pakistan’s domestic oil production decreased by 8.1 percent on weekly basis to stand at 63,480bopd, touching a three-year low.

Gas production also depicted a fall of 3.3 percent on weekly basis, settling at 3,217mmcfd, the latest oil and gas production data indicated on Monday. The decline comes amid reduction in production from Nashpa and Mela field owing to leakage in a 12 inch line of the Sui Northern Gas Pipelines Limited (SNGPL) at Kharapa.

Oil production data showed that oil production of all exploration and production companies i.e. Pakistan Oilfields Limited (POL), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDC) and Mari Petroleum was on a downwards trajectory. All the companies also registered negative growth in gas production.