KARACHI: Pakistan’s oil production grew by 11 per cent year-on-year to reach 96,553 barrels per day (bpd) of oil in Jan 2017 due to additions from Nashpa and Mardan Khel fields which added around 7pc and 4pc, respectively to Jan 2017’s oil production.

Furthermore, improved flows from Adhi and Rajian fields cumulatively elevated production by 4pc.

Gas production remained almost flat at around 4,000 mmcfd as absence of any major addition and natural depletion of existing fields continued to disappoint producers.

During the outgoing month, the Oil and Gas Development Company (OGDC), Pakistan Oilfields (POL) and Pakistan Petroleum (PPL) saw phenomenal growth in their oil levels, growing by 16pc, 20pc and 22pc, respectively thanks to addition from Nashpa (OGDC and PPL hold 56pc and 26pc stakes) and Mardan Khel (POL and PPL hold 28pc stakes each while OGDC holds 21pc).

Nabeel Khursheed at Top Line Securities said there was improved flow from Kunnar Pasaki Deep (KPD) in which OGDC holds 100pc stake (added 1700bpd additional oil in Jan 2017). KPD has yet to add around 4,000 bpd of oil, expected in couple of weeks.

He said OGDC’s gas production fell 4pc YoY in Jan 2017, mainly on the back of lower flow from Qadirpur, Kadanwari and Bhit and Bhandra that cumulatively affected OGDC’s gas production by 4pc during the period.

POL’s gas production grew by 11pc YoY primarily due to 12mmcfd (POL’s share) average gas addition from Mardankhel. On the other hand, improved flow from Kandhkot (76mmcfd) and additional flow from Shahdadpur and Mardankhel (cumulative flow of 43mmcfd) elevated the PPL’s gas production by 10pc YoY during Jan 2017, he said.

Published in Dawn, March 15th, 2017