Govt targets 43.8mln barrels domestic crude oil production in FY 2016-17

12:40 AM | 7 Jun, 2016
Govt targets 43.8mln barrels domestic crude oil production in FY 2016-17
ISLAMABAD (Web Desk) - Government plans to produce 43.8 million barrels of domestic crude oil and 1.51 trillion cubic feet gas per annum during the current fiscal year 2016/17, official sources said.

The supply-demand gap in both oil and gas sectors would be filled through the import of crude oil and petroleum products, they said.

“The indigenous gas supply would be supplemented through LNG imports to the tune of 4.5 million tonnes,” the sources added.

Highlighting programs for promotion of the fuel sector, sources added that a total of 116 wells including 52 exploratory and 64 development wells had been planned for drilling by the exploration and production (E&P) companies.

The seven existing oil marketing companies (OMCs) would construct ten new oil storages at six locations, they added.

Sources said that the up-gradation projects for Attock Refinery Limited (ARL) to enhance refinery capacity by 10,400 barrels per day (BPD), Premier Motor Gasoline (PMG) by 20,000 Tons per month and Euro-II 0.05 per cent Sulphur HSD, were due for completion by the end of 2016.

Similarly, they said, that other refineries i.e. National Refinery Limited (NRL) and Pakistan Refinery Limited (PRL) would complete their up-gradation projects by June 30, 2017.

Both Sui Northern Gas Pipelines Limited (SNGPL), and Sui Southern Gas Pipeline Limited (SSGCL) have plans to add the total of 412,058 new consumers to their respective systems during the year 2016-17, the sources added.

In addition, they said that SNGPL and SSGCL had plans to lay down 6,032 km of new transmission, distribution and service pipelines in their respective networks.

Sources said that in order to transmit the imported LNG to the northern parts of the country, SSGCL would construct 42″ diameter 342-km pipeline from Karachi (Pakistan) to Khirpur (Nara) for transporting 1.2 BCF RLNG dedicated for the SNGPL.