Pakistan’s oil and Gas production worsened by 6% and 4% YoY in 2QFY21

January 14, 2020 (MLN): At the end of the 2QFY21, Pakistan’s production of oil and gas remained under pressure.

Pakistan’s Oil production during the quarter mentioned above fell by 6% YoY to 76,331 barrels of oil per day due to a decline in production of Tal block fields like Mardankhel and Makori Deep by 27% and 31% YoY, respectively.

This brings the total production in 1HFY21 to fell at the same rate by 6% YoY to 75,759 barrels per day, compared to 80,521 barrels per day produced in 1H of FY20.

However, on a quarterly basis, the production has shown a meager rise of 2% QoQ from 75,187 barrels of oil per day.

The top eight oil fields in the country are Nashpa, Adhi, Makori East, Maramzai, Chanda, Mardankhel, Pasakhi, and Makori Deep, these contributed up to 63% of the country’s oil production during 1HFY21. Collectively, the production from these eight fields in 2QFY21 fell by 1% QoQ to 4,392,538 per barrels, while it remained the same when compared with the production of 2QFY20. 

According to the report by Topline Securities, of these, production from Chanda, Maramzai, and Makori East increased in the range of 5-46% YoY. Chanda’s production increased due to the induction of the Chanda-5 well. Production from Nashpa increased 7% QoQ as the field was on an annual turnaround in the last quarter (Sep 03-09, 2020).

Going by the report, five new fields were inducted into the production line during 2QFY21 namely Baqa (300+ bopd; operated by UEP), Saand (100+ bopd; operated by OGDC), Tando Allay Yar SW (90+ bopd; operated by OGDC), Bolan East (800+bopd; operated by MARI) and Mangrio (200+bopd; operated by OGDC).

Meanwhile, Pakistan’s gas production during the quarter understudy worsened by 4% YoY to 3,409 mmcfd as flows from KPD, Kandhkot, and Qadirpur fell in the range of 6-18%, the report said.

This brings the total production in 1HFY21 to 3,522 mmcfd, which is a 3% YoY lower than the 3,641 mmcf produced in 1HFY20.

The top eight gas fields in the country are Mari, Uch, Sui, Qadirpur, Kandkhot, Kunnar Pasakhi Deep, Maramzai, and Nashpa. These made up to 57.6% of the country’s gas production during 1HFY21. Collectively, the production from these eight fields in 2QFY21 fell by 6% QoQ and 4% YoY to 313,600 mmcfd.

Of these, Kandkhkot field reported production of 9,862mmcfd, down by 14% YoY in 2QFY21. The decline in the Kandkhkot field’s production was due to lesser offtake from Gencos. Mari field filled those Kandhkot fields flows as depicted from a 12% YoY increase in its production, the report underscored.

As per the data of Pakistan Petroleum Information (PPI), four new fields were added to a production line, namely Saand (7+ mmcfd; operated by OGDC), Tando Allah Yar SW (9+ mmcfd; operated by OGDC), and Mangrio (3+ mmcfd; operated by OGDC) and Baqa (1mmcfd, operated by UEPL), the report quoted.

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Posted on: 2021-01-14T15:07:00+05:00

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