E&P Companies To Produce 29 MBL Oil, 1.47 TCF Gas
Faizan Hashmi Published October 07, 2021 | 01:39 PM
Exploration and Production (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 during the current fiscal year
ISLAMABAD, Oct 7 (UrduPoint / Pakistan Point News - 7th Oct, 2021 ) :Exploration and Production (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 during the current fiscal year.
The companies 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, according to an official document available with APP.
The country's coal production stood at 3,800,000 tons that would be increased to 6,900,000 during the current year, while LPG import remained at around 492,437 tons which would be taken to 590,924 tons in 2021-22.
In 2020-21, the E&P companies drilled 28 hydrocarbon wells, out of which 13 were exploratory and 15 developmental.
To enhance the exploration activities in the country, as many as six new exploration blocks (Killa Saifullah, Sharan and Suleiman Blocks in Balochistan, Sujawal Block in South Sindh, and Jhelum, Lilla Blocks in Punjab) have been awarded to E&P companies through a transparent and competitive bidding process.
While, the award of new exploration blocks is expected to add new hydrocarbon reserves over the next few years and bridge the oil and gas demand-supply gap in the country.
\395
Recent Stories
SC orders end of encroachments in Karachi
Nazish Jahangir denies viral screenshots, calls them fake
Govt likely to hike electricity price once again
Bismah Maroof announces immediate retirement from international cricket
Malala expresses unwavering support for Gaza people
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
More Stories From Business
-
Sialkot University, Ministry of Climate Change, Ethiopian embassy host business forum
9 minutes ago -
Govt likely to hike electricity price once again
2 hours ago -
Mining giant BHP launches bid to take over rival Anglo American
2 hours ago -
Gold rates up by Rs500 per tola to Rs242,500
3 hours ago -
Tokyo stocks end lower after Meta results
3 hours ago -
EXCHANGE RATES FOR CURRENCY NOTES
5 hours ago
-
Foreign exchange rates
5 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
7 hours ago -
Today Gold Rate in Pakistan 25 April 2024
7 hours ago -
Meta profits soar but costs of AI cause worry
8 hours ago -
Mired in crisis, Boeing reports another loss
16 hours ago -
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
17 hours ago