Pakistan Oil & gas production down 0.4%/2.5%YoY in Jan’24

· As per latest figures from PPIS for Jan’24, crude oil production stood at 71.7k BPD, depicting a decrease of 0.4%/0.4% on a MoM/YoY basis.

· Country’s oil production remained stable, clocking in at 71.17kbpd during 7MFY24 (up 2.4% vs. 69.5kbpd during FY23).

· Sustained levels were aided majorly by inclusions of Mamikhel South (+2.4k BPD) in the Tal block, discovery of three Takhat wells in outgoing 12 months (+0.95k BPD) and OGDC’s Bettani (+0.87k BPD), cumulatively raising 4.2k BPD of oil to country’s total production since FYTD.

· Gas production from legacy fields have continued to exhibit sub-par levels, with declines majorly witnessed in Kandhkot (-65 MMCFD YoY), Uch (-31 MMCFD YoY) and Sui (-26 MMCFD YoY) during the 7MFY24 period.

· However, production from new developments in the country’s largest gas reservoir i.e. Mari gas field, alongside inclusion from new discoveries in the Waziristan (Bettani) and Tal Blocks (Mamikhel South) have cumulatively added 168 MMCFD since FYTD.

Courtesy – AKD Research

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