KARACHI: Pakistan domestic crude oil production in third quarter of FY21 fell by 6 percent on year-on-year basis to 77,139 bopd. This decline is mainly due to sharp fall of 63 percent in Makori Deep’s production, followed by 23 percent decline in Mardankhel and 11 percent in Maramzai’s productions, experts said.
These three fields belong to Tal Block (operated by MOL Pakistan), of which production in total has declined by 13 percent YoY to 17,840 bopd in March 2021 quarter compared to 20,597 bopd in March 2020 quarter, Shankar Talreja at Topline Securities said.
The decline in production from Tal Block was contained to 13 percent due to 3 percent increase in oil production from Makori East (which contributes 54 percent to Tal Block and 12 percent to country’s production.
On a quarter-on-quarter basis, Pakistan oil production is up by 2 percent.
During the first nine months of FY21, Pakistan oil production is lower by 6 percent on YoY to 75,924 bopd due to decline in flows from Makori Deep, Mardankhel and Nashpa fields.
Pakistan domestic gas production is down by 3 percent on YoY in the third quarter of FY21 to 3,550 mmcfd due to lower flows from Qadirpur, Kandhkot, KPD and Maramzai in range of 7-15 percent on YoY.
Mari field’s production has increased by 3 percent on YoY and 2 percent on QoQ as it has replaced Kandhkot field volumes to the National Grid. As a result, Kandkot field volumes have come down by 11 percent on YoY and 1.0 percent on QoQ.
On a QoQ basis, gas production increased by 5 percent in the third quarter of FY21 due to sharp improvement in flows of Uch Field to 35,013 mmcfd.
On the nine months of FY21 basis, gas volumes are down 3.0 percent on YoY to 3,525mmcfd due to decline in flows from Qadirpur, Kandkot, and KPD to the tune of 4-17 percent.
Copyright Business Recorder, 2021
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