E&P Firms Pursuing Target To Drill 90 Wells, Achieve 33.50 Mbbl Oil, 1.473 Tcf Gas Production

Exploration and Production (E&P) companies, operating in different potential areas across the country, are working on ambitious targets of drilling 90 wells and achieving production of 33.50 million barrel (mbbl) crude oil and 1.473 trillion cubic feet (tcf) natural gas during the current fiscal year

ISLAMABAD, (UrduPoint / Pakistan Point News - 21st Jan, 2019 ) :Exploration and Production (E&P) companies, operating in different potential areas across the country, are working on ambitious targets of drilling 90 wells and achieving production of 33.50 million barrel (mbbl) crude oil and 1.473 trillion cubic feet (tcf) natural gas during the current fiscal year.

Under the plan, as many as 50 exploratory and 40 developmental wells would be drilled to meet the indigenous production target, official sources told APP.

Indigenous crude oil production meets only 15 percent of total petroleum products requirement of 26.4 million tons, while 85 percent met through imports of crude oil and refined products.

Answering a question, they sources said the E&P companies carried out 4371-km 2D and 1240-sq.km 3D seismic surveys, besides drilling 93 exploratory and developmental wells in different potential areas during the year 2018.

"Some wells are under the evaluation process, while 13 new discoveries with overall 105.18 mmcfd gas, 5,358 bpd oil flow have been made in just last four months," they added.

Giving a breakup, they said Pakistan Petroleum Limited (PPL) made a discovery in August, 2018 in Sanghar district of Sindh, having flow of 23 Million Cubic Feet Per Day (mmcfd) gas and 91 Barrels Per Day (bpd) oil.

In September, the PPL found an oil deposit with initial flow of 313 bpd in Chakwal district of the Punjab province.

While the same company struck two back to back discoveries on December 3 and 4 in Sanghar and Sajawal districts of Sindh with flow of 18.6 mmcfd gas and 160 bpd oil, and nine mmcfd gas respectively.

Oil and Gas Development Company Limited (OGDCL) made a find in September in Kohat district of Khyber Pakhtunkhwa, having preliminary flow of 1.3 mmcfd gas and 550 bpd oil.

Mari Petroleum Company Limited (MPCL) also contributed a discovery in September in Kachi district of Balochistan province with flow of 1500 bpd oil.

United Energy Pakistan Limited (UEPL) made five successful drills, one was in Tando A Yar district of Sindh in September under which it found oil deposit having initial flow of 1056 bpd, second and third were in Tando M Khan district of Sindh in October with 6.3 mmcfd and 9.5 mmcfd gas flow respectively, while fourth and fifth were also occurred in Sindh province in October and December with 9 mmcfd and 31 mmcfd gas flow respectively.

Pakistan Oilfields Limited (POL) recently discovered an oil reserve in Khyber Pakhtunkhwa with initial flow of 27 bpd.

OMV Maurice, an E&P company, discovered gas deposit in Ghotki district of Sindh in September with flow of 6.48 mmcfd.

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