Hydrocarbon production up 2pc

KARACHI: Pakistan’s hydrocarbon production ticked up 2.0 percent in August 2017, led by 11 percent growth in oil and 3.0 percent increase in gas pumped by exploration companies across the country, Pakistan Petroleum Information Service (PPIS) said on Thursday.  “Oil production reached 88.9k barrels/day (bpd), while the output of gas hit 4.04 billion cubic feet/day (bcfd),” the PPIS numbers showed. 

Analysts attributed the increased production to higher output from Mari, Nashpa, Kandhkot, and Sharf --and additional flows from new discovery in Mardankhel. 

Oil and Gas Development Company’s (OGDC) production grew by 4.0 percent in August 2017, led by 6.0 percent growth in both oil and gas production, which reached 40.1 kbpd and 1.22 bcfd from 37.9kbpd and 1.15 bcfd in August 2016 respectively.  On sequential basis, the production was 1.0 percent month-on-month-basis lower due to relatively lower oil and gas production.  Pakistan Petroleum Limited’s (PPL) output grew by 6.0 percent in August, backed by 16 percent and 6.0 percent growth in oil and gas production to 15.5kbpd and 925mmcfd. On sequential basis, hydrocarbon production remained flat. 

Pakistan Oilfields (POL) production grew by 9.0 percent in August, supported by 12 percent growth in gas production to 82 mmcfd. On sequential basis, hydrocarbon production grew by 3.0 percent month-on-month-basis led by 5.0 percent increase in gas production.  Mari Petroleum’s (MARI) the production grew by 6.0 percent in August, underpinned by 6.0 percent growth in gas production to 724 mmcfd. 

On sequential basis, the production grew by 3.0 percent month-on-month-basis, guided by 5.0 percent and 3.0 percent higher oil and gas production, respectively.