March 18, 2008	Tuesday	Rabi-ul-Awwal 9, 1429

KARACHI, March 17: The oil and gas production in Pakistan has increased by 8.4 per cent and 2.9 per cent to 72,487 barrels a day and 3.974 billion cubic feet per day, respectively during July-December 2007.

According to Pakistan Petroleum Information Service (PPIS), Oil and Gas development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) observed a 10.6 per cent and 76.3 per cent increase in oil production to 439,000 bpd and 41,000 bpd respectively, whereas, Pakistan Oil Fields Limited (POL) witnessed an 8.8 per cent decline to 57,000 bpd.

On the gas front, all companies saw an increase in production during the period under review over that in the first half of the financial year, with that of OGDCL’s increase of seven per cent reaching 978 mcfd, while PPL and POL registered 2.7 per cent and 1.2 per cent rise to 991 mcfd and 47 mcfd, respectively.

Total production of the industry grew at a rate of 3.4 per cent to 746,342 barrels of oil equivalent per day (BOEPD) compared to 721,671 BOEPD in the same period last year.

Oil production in Dec 2007 was down by 5.8 per cent over Nov 2007, while gas production in the same period was up by 5.26 per cent.

The production of liquefied petroleum gas (LPG) has also recorded an increase of 2.20 per cent to 1,547 tons per day.—APP