Oil, gas production falls on weak demand

KARACHI: Pakistan’s oil and gas production declined by 10 per cent and 7.0 per cent, respectively, during the first half of the current financial year, according to data released on Wednesday.

The decline in hydrocarbon production was attributed to forced curtailments at the Nashpa field and the TAL block, driven by reduced gas demand. Key oil fields, including Nashpa, Makori East, Pasakhi, Maramzai, Mardenkhel, Rajian and Dhok Sultan, experienced a drop in production during the July-December period of this fiscal year. However, fields such as Mamikhel South, Sono and Bettani recorded growth during the same period.

In terms of gas production, major fields like Mari, Qadirpur, Sui, Sharf, Kandhkot, Nashpa and Sutiari Deep also reported lower output. On a quarterly basis, oil production decreased by 12 per cent year-on-year, while gas production dropped by 7.0 per cent in the second quarter of the current financial year.

During the first half of the fiscal year, a total of 11 exploratory wells and 15 appraisal/development wells were drilled, falling short of the targets of 27 exploratory wells and 40 appraisal/development wells.

Despite the challenges, exploration efforts by Exploration & Production (E&P) companies resulted in 15 discoveries, with a cumulative yield of approximately 2,075 barrels of oil per day (bopd) and 215 million cubic feet per day (mmcfd) of gas.