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Pakistan: Oil and gas production declined by 4.8% in H1

The total oil and gas production decreased by 4.8 percent during the first half of current financial year compared with the corresponding period of last year due to a decline in output by some major fields.

The oil and gas production totaled at 58.5mnboe in July-December period of 2006-07 against 61.3mnboe oil and gas produced in the same period of previous year, the latest data of production made available to Daily Times indicate.
During the period under review, gas production declined by 5.8 percent to 50.52mnboe as compared with 53.34mnboe in the corresponding period of 2005-06, while oil production increased marginally 0.1 percent 7.98mnbbl against 7.97mnbbl of previous year.

The analysts of oil and gas sector attributed the decline in total production to the decline in the output by the Pindori, Pirkoh, Uch and Loti fields.

However, the start of the production by some newly-made discoveries in the oil and gas sector, are expected to increase the total production of the sector in the coming days, Hussain Yasar, an analyst at Firstcapital believes.

Daily Times

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