As per the latest hydrocarbon reserves data by PPIS, oil reserves during Dec’20 have plummeted by 8% YoY, arriving at 266 mnbbl vis-à-vis 289 mnbbl in Dec’19. This decline comes on the back of a fall in oil reserves of major fields such as Mela, Makori East, Adhi, Nashpa and Mardankhel by 2%, 4%, 10%, 10% and 13% YoY, respectively. Meanwhile, total gas reserves in Dec’20 arrived at 21,207 bcf vis-à-vis 20,884 bcf in Dec’19, an uptick of 2% YoY owing to jump in gas reserves of fields such as Mari, Maramzai, and Shahdadpur by 8%, 13% and 2x YoY, respectively.
By Dec’20, oil and gas reserves from new fields such as Mangrio, Mamikhel South, Togh, Baqa and Singhar were added to the country’s total reserves. In addition to this, oil reserves from Mari Goru B, Mari Tipu, Sujjal and Kalabagh were also reported in Dec’20 oil reserves. Along with this, gas reserves from Umair are added to the gas reserves of Dec’20.
In our AHL E&P Universe, oil reserves of POL and OGDC during Dec’20 plummeted by 2% and 16% YoY, respectively. While PPL and MARI’s oil reserves climbed up by 3% and 2x YoY, respectively.
In terms of gas reserves, OGDC and POL displayed a dip in reserves by 2% YoY, each. Whereas gas reserves of PPL and MARI witnessed an uptick of 2% and 8% YoY, respectively.
Courtesy – AHL Research