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Business

June 30, 2017

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OGDCL, MOL tap oil, gas in KP

OGDCL, MOL tap oil, gas in KP

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) and MOL Pakistan have produced crude oil and natural gas worth Rs99.538 billion from its different operational fields of Khyber-Pakhtunkhwa during the last 17 years.

The two leading companies have extracted over 89,998,250bbl crude oil and 87,217,244mcf natural gas during the period, sources told APP on Thursday. OGDCL tapped around 59,692,454bbl (barrel) crude oil and 86,482,196mcf (million cubic feet) natural gas, amounting to Rs520.538 billion.

The company produced 15,567,543bbl crude oil, 29,626,201mcf natural gas and 43,671 metric tons liquefied petroleum gas (LPG) from the Chanda field, located in Kohat district during the year 2001/02 to 2015/16, worth Rs114,049 million with its 72 percent share.

From the Nashpa field of Karak district, the sources said OGDCL produced 30,847,733bbl crude oil worth Rs266,362 million and 114,654,724mcf natural gas worth Rs295,867 million, having 56.45 percent share, from the fiscal year 2009/10 to 2015/16, whereas the Mela field at Shakar Darah of Kohat district produced 13,269,684bbl crude oil and 44,154,422mcf natural gas, amounting to Rs110,243 million from the year 2006/07 to 2015/16 with its 56.45 percent share. In a period of three years from 2010/11 to 2012/13, the sources said, the company, having 30 percent share, produced 7,494bbl crude oil worth Rs50 million and 1,236,097mcf natural gas from the Sheihkhan field of Kohat district. The MOL Pakistan produced around 735,048mcf natural gas and 30,305,796bbl crude oil and 223,340MT LPG, amounting to Rs380 billion during the last 11 years.

The company produced 511,087mcf gas, 22,337,261bbl crude oil and 161,430MT LPG from the Karak district of KP from year 2005 to 2015.

From the Kohat district, it tapped 110,681mcf gas, 4,298,705 crude oil and 34,416MT LPG, whereas the Hangu district's production stood at 113,280mcf gas, 3,669,830 crude oil and 27,494MT LPG during the same period. The sources also said the company sold natural gas worth around Rs187.6 billion, crude oil worth Rs179.6 billion and LPG worth Rs12.8 billion from Karak, Kohat and Hangu districts.

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