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E&P companies drilled 373 wells in four years

E&P companies drilled 373 wells in four years

ISLAMABAD: Oil and Gas Exploration and Production (E&P) companies operating in different parts of the country drilled 179 exploratory and 194 appraisal wells during the last four years.

“The companies drilled overall 1,073,283 meters as compared to 706,116 meters in corresponding period of the previous government, which is 52 per cent higher. The drills resulted in 101 new oil and gas discoveries,” official.

Answering a question, they said the government so far added over 944 million cubic feet per day (mmcfd) gas and 32,343 bpd oil in the transmission network across the country through indigenous resources. While, the country’s total crude oil production has reached 90,000 barrels oil per day (bpd).

“During tenure of the current government, 466 mmcfd additional gas from new discoveries and 478 mmcfd gas from existing fields, while 11,149 bpd oil from new finds and 21,194 bpd from existing wells have so far been added in the system,” they said.

They said 68 finds, out of total 101 discoveries, had added proven reserves of about 5.4 tcf (trillion cubic feet) gas, while the calculation of 33 wells were yet to be determined. As many as 87 finds have been made in Sindh, seven each in Punjab and Khyber Pakhtunkhwa.

During the same period, the country is estimated to have consumed about 5.2 tcf gas which means that more than 100 percent replacement had been made for the resource consumed.