KARACHI: Pakistan has witnessed a decline in gas and oil production over the past decade, with no major discoveries of new reserves, ARY News reported.
According to the Pakistan Petroleum Information Service, the country’s oil production has decreased by 24,000 barrels per day over the past 10 years.
In 2015, the daily oil production was 94,500 barrels, which dropped to 70,500 barrels in 2024.
Similarly, gas production has also seen a decline of 900 million cubic feet per day over the past decade. In 2015, the daily gas production was 4,016 million cubic feet, which decreased to 3,116 million cubic feet in 2024.
The decline in gas production is due to a 4.4% annual decrease, resulting in a daily production of 3,116 million cubic feet in the fiscal year 2024.
In contrast, oil production saw a marginal increase of 1.5% annually, reaching 70,536 barrels per day in the fiscal year 2024.
READ: OGDCL announces to boost local oil and gas production
Prior to this, Oil & Gas Development Company Limited (OGDCL), announced discovery of gas in Sujawal district of Sindh.
“The well tested 1.24 million standard cubic feet per day (MMSCFD) of gas through a 32/64” choke at a wellhead flowing pressure of 150 pounds per square inch (psi) from the Lower Goru Formation, “OGDCL stated.
The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
It is pertinent to mention here that OGDCL had announced to increase local oil and gas production as crude oil production increased from Kunar Well No. 11 in Hyderabad district of Sindh.
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