KARACHI: Pakistan has experienced a reduction in gas and oil production over the last decade, with no significant new reserves discovered. The Pakistan Petroleum Information Service reports that the country’s oil production has dropped by 24,000 barrels per day in the past ten years.
Earlier in 2015, daily oil production was 94,500 barrels, but it fell to 70,500 barrels by 2024. Gas production has similarly decreased by 900 million cubic feet per day over the same period.
Daily gas production fell from 4,016 million cubic feet in 2015 to 3,116 million cubic feet in 2024. This reduction is attributed to a 4.4% annual decline in gas output.
Conversely, oil production saw a slight annual increase of 1.5%, reaching 70,536 barrels per day in the fiscal year 2024.
In related news, Oil & Gas Development Company Limited (OGDCL) recently announced a new gas discovery in Sujawal district, Sindh.
The well produced 1.24 million standard cubic feet per day (MMSCFD) of gas through a 32/64″ choke at a wellhead pressure of 150 pounds per square inch (psi), as reported in a notice to the Pakistan Stock Exchange (PSX).
Additionally, OGDCL has reported increased local oil production from Kunar Well No. 11 in Hyderabad district, Sindh.
