Topline Securities brokerage house released a report on production trends of oil and gas in the second quarter of the fiscal year 2020-21 (October to December 2020), showing that oil production fell by 6 percent while gas production decreased by 4 percent.
The report also shows that five oil fields and four gas fields were added during the period in concern.
Pakistan’s Oil production during 2QFY21 fell by 6 percent YoY to 76,331 barrels of oil per day (bopd). This decrease happened primarily due to a decline in production of Tal block fields like Mardankhel and Makori Deep by 27 percent and 31 percent YoY, respectively.
Oil production during 1HFY21 (July to December 2020), fell at the same rate of 6 percent YoY.
Despite the overall decline, production from Chanda, Maramzai, Nashpa, and Makori East, increased in the same period, as per the report.
The report also mentioned that per PPIS data, five new fields were inducted into the production line during 2QFY21. They are:
- Baqa (300+ bopd; operated by UEP)
- Saand (100+ bopd; operated by OGDC)
- Tando Allah Yar SW (90+ bopd; operated by OGDC)
- Bolan East (800+bopd; operated by MARI)
- Mangrio (200+bopd; operated by OGDC)
About the decline in Pakistan’s gas production, the report highlighted a 4 percent YoY decrease, to 3,409 mmcfd as flows from KPD, Kandhkot, and Qadirpur fell.
During 1HFY21, production declined by 3 percent YoY.
Kandkhkot field’s production declined due to lesser offtake from Gencos, while Mari field filled those Kandhkot fields flows as depicted from 12 percent YoY increase in its production.
Four new fields were added to the production line, namely:
- Saand (7+ mmcfd; operated by OGDC)
- Tando Allah Yar SW (9+ mmcfd; operated by OGDC)
- Mangrio (3+ mmcfd; operated by OGDC)
- Baqa (1mmcfd, operated by UEPL)