Page 27 - Pakistan Oilfields Limited - Annual Report 2020

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and price of petroleum products during the
lockdown period. However, the businesses
are resuming as per relaxation given by the
Authorities. Management successfully faced
these challenges allowing only minimum
adverse impact on the operating results of
the Company. Management will continue to
monitor and will take all steps possible to
mitigate any effects.
Oil prices in international market and exchange
rates have significant impact on the Company’s
revenue, The Company has no control over
both factors but we have reviewed our
Capital/Revenue Budgets and allowed only
those spending which are most crucial and
necessary for the Company’s operations.
Performance related to forward
looking disclosure made in last
year.
Due to drilling challenges in salt formation at
Balkassar Deep-1, further proceeding to the
target depth was abandoned and testing of
only upper zones is in progress.
At Pindori-10 due to early water incursion, the
well is currently producing around 50 barrels
per day of oil and 0.5 mmscf per day of gas.
Testing of another zone which was the main
target of this well is under evaluation and will be
tested at later stage.
At Tal block, Development well Makori Deep-
02 was connected to the production line as
on November 19, 2019. Due to water incursion
the well is presently producing around 850
barrels of oil per day and 8.38 mmscf of gas
per day. At KOT area, 152.93 square kilometers
Seismic data acquisition was completed and
data processing work is going on. At TAL West
area, 3D Seismic acquisition at of 510 square
kilometers has been completed.
At Adhi field, Adhi-33 well is producing 200
barrels of oil and 3.15 million cubic feet of gas
per day at plant.
Drilling of Adhi 34 well has been completed and
after testing is producing around 46 barrels of oil
per day and 0.4 million cubic feet of gas per day.
Adhi South-4 well tested and is currently
producing 1,160 barrels of oil and 1.12 cubic
feet of gas per day at plant.
At Margalla block, 2D Seismic acquisition
of 203 line kilometers has been completed,
processed and interpreted. A prospect has
been mapped.
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PAKISTANOILFIELDS LIMITED