Page 31 - Pakistan Oilfields Limited - Annual Report 2021

Trends and impact on the Performance At Tal block,
uncertainties operating results related to Mamikhel South-01
well production
of the Company.
affecting the Management will forward looking line has been
Company’s continue to monitor disclosure completed. In order
revenue and and will take all steps made in last to start production
Government’s
possible to mitigate
operations any effects. year. approval is awaited
for Gas price
The spread of Covid Oil prices in At Pindori-10, a rig under Petroleum
- 19 as a pandemic international market workover was done Policy-2012.
and consequently and exchange rates to isolate Lockhart
imposition of lock have significant formation and test At Gurgalot
down by Federal impact on the the potential of block, 320 square
and Provincial Company’s revenue, shallower formations kilometers 3D
Governments of The Company has to enhance seismic data
Pakistan (Authorities) no control over both production from acquisition has
caused an overall factors but we have the field. During been completed and
economic slowdown reviewed our Capital/ this workover, the data processing /
and disruption to Revenue Budgets potential of both interpretation is in
various businesses and allowed only Sakesar and Chorgali progress.
at the start of 2020. It those spending which formations was
resulted in decrease are most crucial tested. Presently, At Taung block, 3D
in demand and and necessary for Pindori-10 is Seismic acquisition
price of petroleum the Company’s producing around of 241 square
products during the operations. 450 bpd of oil and 1.1 kilometers has been
lockdown period, mmscfd of gas with completed out 540
which are now a wellhead flowing Square kilometers.
steadily recovering. pressure of 1,900 psi At Ratana field,
Management and around 80 bpd of drilling at Ratana-5
successfully faced water at fixed choke (Side track-1) is in
these challenges size of 16/64”. progress at 1,145
allowing only meters.
minimum adverse

ANNUAL REPORT 2021 29