Energy starved Pakistan continued its dismal performance as far as oil and gas exploration is concerned, reports suggest.
According to Pakistan Petroleum Limited, country s exploration and development activity remained subdued by the recent floods and prevailing circular debt adversely impacting sector s cash flows and growing security concerns in the rich hydrocarbon basins of Khyber Pukhtunkhwa and Baluchistan.
The oil and gas exploration and production companies could drill 5 exploratory wells in the last four months of the current fiscal year against the annual target of 29 wells and 6 exploratory wells drilled last year during the same period.
On the other hand, 8 developmental and appraisal (D&A) wells have been drilled, against the full year target of 51 wells and 7 wells drilled in the same period last year.
Province-wise breakup of the activity reveals that exploration activity was skewed towards Sindh, with 3 wells being spudded in the province.
The others 2 wells were drilled in KP. However, the activity was restricted only to one operator MOL in the Tal Block. Developmental activity also predominantly took place in Sindh with 5 wells drilled in the province, while 1 each was drilled in the other three provinces of the country.
Amongst the listed exploration and production companies, Oil and Gas Development Company (OGDC) was only able to drill 1 exploratory well (Sehar-1), while no wells were drilled by Pakistan Petroleum Limited (PPL) and Pakistan Oilfield (POL).
The representation of these companies also came from their working interest in Tal Block, and they all benefited from the only discovery of the year so far. MOL Pakistan was able to have its 5th discovery in the Tal block.
On the developmental front, OGDC was able to drill 4 wells with working interest in 3 other developmental wells. PPL s developmental activity also remained muted while having working interest in Qadirpur, Naspha and Miano.
POL drilled only one appraisal well, Domail-II. This being POL s 2nd endeavor in the Iklas block, after Domail-1 temporarily suspended. staff report
According to Pakistan Petroleum Limited, country s exploration and development activity remained subdued by the recent floods and prevailing circular debt adversely impacting sector s cash flows and growing security concerns in the rich hydrocarbon basins of Khyber Pukhtunkhwa and Baluchistan.
The oil and gas exploration and production companies could drill 5 exploratory wells in the last four months of the current fiscal year against the annual target of 29 wells and 6 exploratory wells drilled last year during the same period.
On the other hand, 8 developmental and appraisal (D&A) wells have been drilled, against the full year target of 51 wells and 7 wells drilled in the same period last year.
Province-wise breakup of the activity reveals that exploration activity was skewed towards Sindh, with 3 wells being spudded in the province.
The others 2 wells were drilled in KP. However, the activity was restricted only to one operator MOL in the Tal Block. Developmental activity also predominantly took place in Sindh with 5 wells drilled in the province, while 1 each was drilled in the other three provinces of the country.
Amongst the listed exploration and production companies, Oil and Gas Development Company (OGDC) was only able to drill 1 exploratory well (Sehar-1), while no wells were drilled by Pakistan Petroleum Limited (PPL) and Pakistan Oilfield (POL).
The representation of these companies also came from their working interest in Tal Block, and they all benefited from the only discovery of the year so far. MOL Pakistan was able to have its 5th discovery in the Tal block.
On the developmental front, OGDC was able to drill 4 wells with working interest in 3 other developmental wells. PPL s developmental activity also remained muted while having working interest in Qadirpur, Naspha and Miano.
POL drilled only one appraisal well, Domail-II. This being POL s 2nd endeavor in the Iklas block, after Domail-1 temporarily suspended. staff report
