E&P companies eyeing to tap deposits of oil & gas in KP

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ISLAMABAD: Oil and gas Exploration and Production (E&P) companies have intensified their drilling activities to tap recoverable reserves of around Trillion Cubic Feet (TCF) and oil reserves exceeding 500 million barrels (mbl) oil in different potential areas of Khyber Pakhtunkhwa.

“KP holds promise for new exciting discoveries, particularly in Kohat Basin which has become main area of focus after successful discoveries by OGDCL and MOL. Most of the area of KP is still lying unexplored and therefore, there is potential of future hydrocarbon prospects in the province,” official sources told APP.

Oil and Gas Development Company (OGDCL) and MOL Pakistan have produced Rs99.538 billion crude oil and natural gas from its different operational fields of Khyber Pakhtunkhwa during the last 17 years.

The two leading companies have extracted over 89,998,250 bbl crude oil and 87,217,244 mcf natural gas during the period.

The OGDCL tapped around 59,692,454 bbl (barrel) crude oil and 86,482,196 mcf (million cubic feet) natural gas amounting to Rs520.538 billion.

The company produced 15,567,543 bbl crude, 29,626,201 mcf natural gas and 43,671 metric ton (mt) Liquefied Petroleum Gas (LPG) from the Chanda field, located in district Kohat of the province, during the year 2001-02 to 20015-16, worth Rs114,049 million with its 72 percent share.

From the Nashpa field of district Karak, they informed that OGDCL produced 30,847,733 bbl crude oil of Rs266,362 million and 114,654,724 mcf natural gas of Rs295,867 million, having 56.45 percent share, from the fiscal year 2009-10 to 2015-16.

Whereas, the Mela field at Shakar Darah of district Kohat produced 13,269,684 bbl crude oil and 44,154,422 mcf natural gas amounting to Rs110,243 million from the year 2006-07 to 2015-16 with its 56.45 percent share.

In a period of three years from 2010-11 to 2012-13, the sources said the company, having 30 percent share, produced 7,494 bbl crude oil of Rs50 million and 1,236,097 mcf natural gas from the Sheihkhan field of district Kohat.

The MOL Pakistan produced around 735,048 mcf natural gas and 30,305,796 bbl crude oil and 223,340 mt LPG amounting to Rs380 billion during the last 11 years.

The company produced 511,087 mcf gas, 22,337,261 bbl and 161,430 mt LPG from the Karak district of KP from year 2005 to 2015.

From the Kohat district, it tapped 110,681 mcf gas, 4,298,705 crude oil and 34,416 mt LPG, whereas the Hangu district’s production stood at 113,280 mcf gas, 3,669,830 crude oil and 27,494 mt LPG during the same period.

Answering a question, they said the company sold around Rs187.6 billion natural gas, Rs179.6 crude oil and Rs12.8 LPG from districts Karak, Kohat and Hangu during the period.

 

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