OGDCL injects 13 new wells in production gathering system

[AZ1]

ISLAMABAD, Sep 23 (APP):The Oil and Gas Development Company Limited (OGDCL) has injected 13 new wells, producing 373,515 Barrels crude oil and 4,867 Million Cubic Feet (MMCF) gas, in its production gathering system during the last fiscal year.

“The company contributed around 45 percent and 29 percent towards the country’s total oil and natural gas production respectively,” the OGDCL announced in its annual report for the year 2018-19.

The company also acquired 1,324 Line-Kilometer 2D and 620 Square-kilometer 3D seismic data, which represented 63 percent and 41 percent, respectively of total seismic data acquisition in the country.

https://www.app.com.pk/ogdcl-injects-13-new-wells-in-production-gathering-system/

 

[TNT]

Just to give it a perspective, Pakistan DAILY usage of oil is more than 500,000 barrels.

 

[YeBeWarned]

Inshallah we will discover more Oil and Gas, and extract it for the people .. much of our import goes into energy based resources like Oil and gas . If we become self-sufficient in that much of our imports will go down hence saving a lot of dollars .

 

[Dr-who]

I thought we barely produced 100,000 bpd?

 

[The Accountant]

Just to give it a perspective, Pakistan DAILY usage of oil is more than 500,000 barrels.

Not possible.

373K barrel added just last year ... our consumption should have been much higher

 

[AZ1]

Not possible.

373K barrel added just last year ... our consumption should have been much higher

its 6 lac barrel per day

 

[The Accountant]

its 6 lac barrel per day

what is our production ?

 

[AZ1]

what is our production ?

It was around 25% and we were importing 75%.

Now its 29% as per understanding.

 

[The Accountant]

It was around 25% and we were importing 75%.

Now its 29% as per understanding.

So apparently the figure 373,515 barrel in OP is incorrect.

 

[Code_Geass]

we need to diversify our energy needs LNG will help a bit to decrease our need on furnace oil which is very volatile in past few years.

 

[Yaseen1]

i think local production should be allocated to defense sector so they not face shortage of any oil during conflict and naval blockade

 

[AZ1]

So apparently the figure 373,515 barrel in OP is incorrect.

Now all reporting it

https://nation.com.pk/24-Sep-2019/ogdcl-injects-13-new-wells-in-production-gathering-system

https://dunyanews.tv/en/Business/510862-OGDCL-injects-13-new-wells-production-gathering-system

 

[The Accountant]

Now all reporting it

https://nation.com.pk/24-Sep-2019/ogdcl-injects-13-new-wells-in-production-gathering-system

https://dunyanews.tv/en/Business/510862-OGDCL-injects-13-new-wells-production-gathering-system

How is it possible. If our consumption is 600,000 barrel and 373,500 barrels production just added last year it means we added 60% of demand just last year, which means we are importing probably just 25% of the oil or around 150,000 barrel at max considering we wer producing 80,000 per day previously.

Things dont add up. Probably some incorrect figures are reported to media

 

[niaz]

So apparently the figure 373,515 barrel in OP is incorrect.

The figure of 373, 515 bbls represents total "Annual" production, this translates into just over 1K bbl per day. Similarly, the annual gas production of 4,867-mm cft (4.867-billion) represents only 13.34-million cft per day. IMO the press release cleverly stated the figures in annual terms instead of the daily production rate so as to appear much larger to the uninformed reader.

For comparison, to the best of my info; current gas consumption is about 4.2-billion cft per day and oil consumption in December 2018 was 588K bbl per day.

Even though all the new discoveries are small & barely viable, nevertheless it is better than "no-discovery" for the energy-starved Pakistan.

 

[Code_Geass]

Our oil production was 94 k bpd last year