Pakistan’s oil and gas production saw a decline during the first nine months of the fiscal year, according to data from the Pakistan Petroleum Information System (PPIS).
Oil output dropped by 11% to 47,970 barrels per day (bpd), down from 50,588 bpd recorded in the same period last year.
Meanwhile, natural gas production slipped 7% to 2,045 million cubic feet per day (mmcfd) compared with 2,119 mmcfd in the corresponding period last year.
An analyst at Arif Habib Limited attributed the downturn to forced curtailments at key fields, including Nashpa and the TAL block, amid weakened gas demand.
Major Oil-Producing Felds Such as Nashpa, Makori East, Pasakhi, Adhi, Chanda, Mardenkhel, Maramzai, Rajian and Umar Reported Lower output During the Period.
Similarly, Gas Production Saw Declines at Significant Fields Including Mari, Qadirpur, SUI, Sharf, Kandhkot, Nashpa, and Sutiari Deep.
In the third quarter of the fiscal year, oil and gas production fell further, registering a 13% and 8% decrease, respectively, compared with the previous quarter.
Despite the decline in production, Pakistan’s exploration and development activities continued, with 15 exploratory wells and 23 appraisal/development wells drilled against a target of 27 exploratory and 40 appraisal/development wells.
The country recorded 18 new hydrocarbon discoveries, with an estimated cumulative output of 3,184 bpd of condensate and 279 mmcfd of gas.
Pakistan’s oil reserves witnessed notable growth, increasing 23% year-on-year (YoY) to reach 238 million barrels by December 2024, compared with 193 million barrels in December 2023.
This is a growth was fueled by rising esteemates at Key Fields Such as Pasakhi/Pasakhi North East, Rajian, Kunar, Sono, Thora, Jhandial, and Lashari Center. Hower, Reserves at Fields Including Nashpa, Adhi, Bettani, Makori East, and Shahdadpur Saw declines.
Similarly, total gas reserves stood at 18,142 billion cubic feet (bcf) at the end of December 2024, marking a slight increase from 18,109 bcf a year earlier. Strong reserve growth was noted at Uch and Mari Ghazij, while fields such as Mari, Zin, Sui, Qadirpur, Kandhkot, and Shahdadpur reported reductions in reserves.
