Pakistan oil production declines, gas production remains flat

According to a report by Topline Securities, Pakistan oil production in 4QFY21 was down 3% QoQ to 74,700 barrel per day (bpd). The decline was visible in nearly all major fields namely Nashpa, Adhi, Makori East, Maramzai, Chanda, Mardankhel and Makori Deep. Production from Tal Block fields like Makori East, Mardankhel, Makori Deep dropped due to Annual Turn Around (ATA) in Mid April 2021. Production from KPD fields also declined due to Annual Turn-Around at the end of June 2021.

During FY21, oil production increased by 24% to 75,600 bpd as production in FY20 was lower due to COVID-19 led lockdowns, which restricted overall throughput of oil and gas fields amidst lower demand. Two new oil fields started commercial production during the quarter namely Benari and Gagani, with cumulative production flows of 70-80 bpd.

Gas production remained flattish at 3,509 mmcfd during the 4QFY21, despite gas shortages making headlines during last couple of weeks of June 2021.

Increase in gas flows was witnessed from Uch and Mari fields. The flows from the latter increased despite lower offtake by FFC (because of turnaround) as Mari diverted flows to the national grid (Guddu). Production from Kandhkot field declined 4%QoQ due to lower demand by Gencos.

During FY21 gas production declined 2% to 3,511 mmcfd mainly due to 13% and 17% decline in flows from Qadirpur and Kandhkot, respectively.

During the outgoing quarter, two new wells commenced commercial production line namely Benari and Gagani, with cumulative flows of 7-8 mmcfd.

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