E&P Companies Drill 217 Oil & Gas Wells In 40 Months

The oil and gas Exploration and Production (E&P) companies, operating in different parts of the country, have drilled around 217 wells including 87 exploratory and 130 appraisal and development during a 40-month period

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Jan, 2022 ) :The oil and gas Exploration and Production (E&P) companies, operating in different parts of the country, have drilled around 217 wells including 87 exploratory and 130 appraisal and development during a 40-month period.

As a result of the exploration and development activities, the companies produced additional 32,496,029 barrel (BBL) oil and 1,436,546 million cubic feet (MMCF) gas in 2018-19; around 28,086,649 BBL oil and 1,316,635 MMCF gas in 2019-20; as many as 27,568,461 BBL oil and 1,279,243 MMCF gas in 2020-21 and 9,295,184 BBL oil and 415,366 MMCF gas in first four months of the current fiscal year, according to an official data available with APP.

In 2021-22, the E&P companies would produce around 29 million barrel (MBL) crude oil and 1.47 trillion cubic feet (TCF) gas and 917,731 tons Liquefied Petroleum Gas (LPG) under the targets given by the government to meet the country's energy needs.

In 2020-21, the companies had produced around 27 MBL of crude oil, 1.27 TCF of gas and 764,775 tons LPG during the last year against the targets of 30 MBL oil, 1.43 TCF gas and 753,051 LPG.

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