Country moving towards achieving autarky in crude oil production, refining


Islamabad—Pakistan is moving fast towards achieving self-reliance in crude oil production after the government accelerated exploration of indigenous hydrocarbon resources over the last three years. “Capacity to produce crude oil and its indigenous refining is increasing gradually. Now, the country has started moving on the path of achieving self-reliance in the sector,” a senior official of the Ministry of Petroleum and Natural Resources told APP Monday. He said crude oil production of the Oil and Gas Development Company (OGDCL) had recently touched the highest level of 48,767 barrels per day (bpd).
Despite a phenomenon of growth stagnation in crude oil production during the last five years, he said, now the company’s production was likely to improve in the coming months after completion of ongoing projects. Pakistan’s total crude oil production is 85,000 bpd and OGDCL’s share is more than 57 percent. “The crude oil production achieved by OGDCL has never been matched by any foreign or local E&P company operating in Pakistan,” the official said.
Answering a question, he said, the Byco Petroleum Company had established the country largest production unit, having refining 120,000 bpd oil, in Balochistan last year. He said the country’s oil refining capacity had dropped from 50 percent mark, which was not considered a good sign for the national economy. Presently, he said, as many as six oil refineries were operating in the country and they had full capacity to refine the product as per needs of the country. However, he said, a lot of work was yet to be done in the exploration sector to achieve autarky.
He said currently 70 percent of the current oil demand was met through import and the government had planned to set up more oil refineries in the coming days. Recently, he said, the government in a significant move to achieve self-reliance in the oil production sector, had given the task to Pakistan Arab Refinery Company (PARCO) to complete the much delayed multi-billion dollar Khalifa Coastal Oil Refinery project. The coastal refinery will have the capacity to refine 250,000 bpd – equal to 13 million tons of petroleum products per year, he added. Replying to a question, he said, the oil and gas exploration companies operating in different parts of the country made 84 discoveries during last three years. Following which, around 631 million cubic feet per day (mmcfd) gas and 27,359 barrels per day (bpd) Crude Oil production has been added to the system, the official added.—APP