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FORWARD LOOKING
STATEMENT AND
FUTURE PLAN
We are committed to increase the reserves
of hydrocarbons and to explore all possible
options to optimally produce the proven
reserves in economically viable manner.
Driven by our vision to be the leading oil and
gas exploration and production Company of
Pakistan, the Company is investing substantial
amount on exploration/development activities.
Presently, two development wells are under
testing. In the year 2020-21 two exploratory
wells will be spudded. The Company is investing
a substantial amount to increase its reserve
base and with the Grace of Allah we are pretty
much hopeful to get new successes. A new
discovery at Mamikhel South has been added in
the discoveries of TAL Block, it will be evaluated
and appraised on fast track basis.
The Company is continuously investing in
seismic data acquisition, processing and
interpretation. Presently 3D/2D Seismic data
acquisition, processing and interpretations
are under way at Ikhlas, TAL West area and
Gurgalot blocks which is a prerequisite for the
decisions of new wells.
At DG. Khan, DGK-1 well has been finalized and
presently road to well location and well site
construction is in progress. At Kirthar South
Block, environment study is in progress prior to
initiating the exploration activities.
At Tal block, Mamikhel South-01, tested 3,240
barrels per day of condensate, 16.12 mmscf per
day of gas and 48 barrels per day of water at
32/64 fixed choke size at the flowing wellhead
pressure of 4,476 psi. Efforts are underway
to connect this well to the production line.
Location has been approved for Mardankhel-4
well.
At Gurgalot block, 320 square kilometers 3D
seismic data acquisition has been completed
and data processing /interpretation is in
progress.
At Taung block, 3D Seismic acquisition planning
is in progress.
Ratana-5 well has been approved by the Joint
Venture Partners and expected to be drilled
during this year
Trends and uncertainties
affecting the Company’s revenue
and operations
The spread of Covid - 19 as a pandemic
and consequently imposition of lock down
by Federal and Provincial Governments of
Pakistan (Authorities) caused an overall
economic slowdown and disruption to various
businesses. It resulted in decrease in demand
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PAKISTANOILFIELDS LIMITED