Pakistan Oil Fields discovers new oil and gas reserves

Aug 13, 2003 02:00 AM

Pakistan Oil Fields has found additional oil and gas reserves in the Pindori Field, located about 50 km south of Islamabad, according to an official document. The discovery will add about 2,000 bpd of crude oil to the Pindori Field's output of 6,200 bpd and 7 mm cfpd of gas to its daily output of 19 mm cf.
"This is the first time Dhak-Pass sand has been found to be oil and gas bearing in the Pindori Field, and these newly discovered hydrocarbons will be additional reserves for the Pindori Field," it said.

The Pindori Field is a joint venture between Pakistan Oil Field, with a 35 % operating stake, Oil and Gas Development, with 50 %, and Attock Oil with 15 %. Crude oil production rose to 64,907 bpd during the 2002-03 financial year, up 0.8 % on year from 64,361 bpd.
The production accounted for only 15 % of the country's needs, whereas the rest is imported from Saudi Arabia, Iran and the United Arab Emirates. Pakistan normally produces only 15 % of its total annual oil needs.

Source: Dow Jones
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