KARACHI: The oil reserves have reduced by 7.0 percent on year-on-year basis, arriving at 233 million bbl during June 2022 as compared to 249 million bbl in the same month in 2021.

The decline comes on the back of the reduction in oil reserves of major fields such as Mardenkhel, Adhi, Shahdadpur, Pasakhi/ Paskhi North East, Nashpa and Mela by 13 percent, 14 percent, 15 percent, 22 percent, 38 percent and 74 percent on YoY, respectively. The oil reserves of Makori East, Chanda, Tolanj West and Togh reported a healthy growth of 18 percent, 185 percent, 4x, and 5x on YoY. respectively.

Total gas reserves in June 2022 plummeted by 7.0 percent on YoY, settling at 19,513bcf. Gas reserves of fields such as Mari, Uch, Shahdadpur, Kandhkot, Kunnar West Deep, and Qadirpur depicted a decline of 5 percent, 5 percent, 7 percent, 8 percent, 14 percent, and 26 percent on YoY, respectively. Meanwhile, the gas reserves of Sui registered an increase of 5 percent on YoY, Muhammad Iqbal Jawaid at Arif Habib Limited said.

Copyright Business Recorder, 2022