The energy crisis in Pakistan continue to persist as the demand for oil and gas is increasing due to increase in industrial production and exports despite COVID-19 pandemic.
According to Topline Securities research report, in the second quarter (October-December) of the fiscal year 2020-21, oil and gas production decreased by 6 percent and 4pc, respectively, this comes despite the system witness increase of five oil fields and four gas fields during the period.
According to the report, in the second quarter of the current financial year, Pakistan's oil production during the second quarter of FY21 fell by six percent on year-on-year basis to 76,331 barrels of oil per day due to decline in production of Tal Block fields like Mardankhel and Makori Deep by 27 percent and 31 percent, respectively. Oil production during the first half of FY21 fell at the same rate of six percent on YoY basis.
Production from Chanda, Maramzai, and Makori East increased in range of 5-46 percent on YoY basis. Chanda's production increased due to induction of Chanda-5 well, Shankar Talreja at Topline Securities said. Production from Nashpa increased 7 percent on quarter-on-quarter basis as field was on an annual turnaround in the last quarter (September 03-09, 2020), he added.
As per PPIS data, five new fields were inducted to production line during the second quarter of FY21 namely Baqa (300+ bopd; operated by UEP), Saand (100+ bopd; operated by OGDC), Tando Allay Yar SW (90+ bopd; operated by OGDC), Bolan East (800+bopd; operated by MARI) and Mangrio (200+bopd; operated by OGDC).
Pakistan gas production declined by 4 percent on YoY to 3,409mmcfd as flows from KPD, Kandhkot and Qadirpur fell in the range of 6-18 percent. During the first half of FY21, production declined by 3 percent on YoY basis.
During the second quarter of FY21, Kandhkot field's production declined due to lesser offtake from Gencos. Mari field filled those Kandhkot field's flows as depicted from 12 percent on YoY increase in its production.
Four new fields were added to production line, namely Saand (7+mmcfd; operated by OGDC), Tando Allah Yar SW (9+mmcfd; operated by OGDC) and Mangrio (3+mmcfd; operated by OGDC) and Baqa (01mmcfd, operated by UEPL), Shankar Talreja said.