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National

August 8, 2017

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KPOGCL exploring more sites to increase production of oil, gas

KPOGCL exploring more sites to increase production of oil, gas

PESHAWAR: The Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) in collaboration with other companies is exploring more sites to increase productivity of oil and gas reserves.

Giving statistics of the current production, a press release of KPOGCL said the production of oil had been capped at 1650 barrel, gas 16 mmcf while Dera Ismail Khan has the capacity of producing 5000 barrel oil and natural gas production capacity 45 mmcf.

It said that the province had been divided into seven blocks on the basis of natural resources. The Dera Ismail Khan block has been divided into East and West Block.The East block comprising 446sq kilometers area, while the West Block comprising 300sq kilometers.

The KPOGCL in collaboration with other companies is exploring more sites to increase productivity.It said that DIK Block is a 15-year project which is expected to generate $555 million. Out of the profit natural gas would contribute $261 million while crude oil would add $294 million.However, after the expediters, royalties and taxes the net profit would be $172million.

The communication said that DIK East Block project is expected to generate $263 million. Out of the profit natural gas would contribute $116 million while crude oil would add $147 million. However, after the expenditures, royalties and taxes the net profit would be $78 million.

It said that DIK West Block project is expected to generate $292 million. Out of the profit natural gas would contribute $145 million while crude oil would add $147 million. However, after the expenditures, royalties and taxes the net profit would be $94 million.

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