Pakistan Oilfields

Pakistan Oilfields

Type State sector

Public

Traded   as KSE: POL

Industry Oil and gas industry

Genre Oil and gas exploration

Successor Ministry of Petroleum and Natural Resources

Founded November 25, 1950

Founder Ministry of Petroleum and Natural Resources

Headquarters Rawalpindi

Area served Worldwide nationwide

Key people Shuaib A. Malik

(Chairman and CEO)

Khalid Nafeez Zaidi

(Chief Financial Officer)

Dr. Shoaid Naseer

(Chief Medical Officer)

Board of Governors

(Ministry of Petroleum and Natural Resources)

The Pakistan Oilfields Limited (KSE: POL; formerly known as Pakistan-Soviet Oil

Fields), is a global competitive oil exploration consortium and mega corporation, located

in Rawalpindi, Punjab Province of Pakistan.[1] The Pakistan Oilfields is a subsidiary of the

Attock Group of Companies, was incorporated on 25 November 25, 1950, with the financial

capital and technical cooperation of theSoviet Union.[2]

In 1978, Pakistan Oilfields took over the exploration and production business of Alishba Oil

Company. Since then, Pakistan Oilfields has been investing independently. Pakistan

Oilfields is a leading oil and gas exploration and production company listed on all the three

stock exchanges of Pakistan.

Corporate Overview

The Pakistan Oilfields was incorporated by the Ministry of Petroleum and Natural

Resources (MoPMR) on 25 November 1950, by the government of Prime Minister Liaquat

Ali Khan. In 1959, Minister of Energy Zulfikar Ali Bhutto  officially proceeded with Nikita

Khrushchev on a bilateral cooperation agreement; the Soviet Union officially joined the

project as a joint-venture in 1960. The joint-venture was established as "Pakistan-Soviet

Oilfields", with Pakistan Petroleum also joined hands in this megaproject.[2] In 1961, with

technical advisers and financial capital provided by the Soviet Union, the oilfields and

Pakistan Petroleum began oil exploration and began drilling the extracted field with Soviet

help in 1961 and activity began in Toot during 1964.[3] It became part of the Attock Group of

Companies (AOC) which had most of its shares and control over the management.[4]

In 1978, the POL was horizontically integration and took over the exploration and production

business of AOC.[4] Since then, POL has been investing independently and in joint venture

with various exploration and production companies for the search of oil and gas in the

country.[4] In addition to exploration and production of oil and gas, POL also manufactures

LPG, Solvent Oil and Sulphur. POL markets LPG under its own brand named POLGAS as

well as through its subsidiary CAPGAS (Private) Limited.[4] POL also operates a network of

pipelines for transportation of its own as well as other companies' crude oil to Attock

Refinery Limited. In 2005, the Company acquired a 25% share in National Refinery Limited,

which is the only refining complex in the country producing fuel products as well as lube

base oils.[4]

References

1.  "Official site". Pakistan Oilfields. Retrieved 11 September 2012.2.  b Hussain, Nazir (2012). "USSR-Pakistan Relations: A historical recount" (PDF). Journal of

Political Studies (Journal of Political Studies) 19 (1): 79–89 [83]. Retrieved 11 September2012.

3.  Editorships and authoriships. "Exploration History of Pakistan". Pakistan Association of Petroleum Geoscientists. Retrieved 11 September 2012.

4.  b c d e POL. "Overview". POL. Retrieved 11 September 2012.

Mari Petroleum Company Limited

Mari Petroleum Company Limited

Type Public Limited

Traded as KSE: MARI

Industry Oil and Gas

Founded December 1984

Headquarters Islamabad, Pakistan

Key people Lt Gen Nadeem Ahmed, HI (M), SE, T Bt, (Retd)

(Managing Director / CEO)

executive profile

Products Oil, Natural gas, Condensate, LPG

Revenue Pak Rs. 31.4 billion (2011)

Website www.mpcl.com.pk

corporate profile

Mari Petroleum Head Office, Islamabad

Mari Petroleum Company Limited (MPCL; formerly, Mari Gas Company Limited) is one of Pakistan’s largest E&P (petroleum exploration and production) companies, operating the country’s second largest gas reservoir at Mari Field, District Ghotki, Sindh. MPCL is primarily engaged in exploration, development and production of hydrocarbon potentials (natural gas, crude oil,condensate, and liquified petroleum gas).

HistoryIn 1957, when MPCL was operating as Esso Eastern Inc.,[1]the Mari Gas Field was discovered in Daharki, Sindh, Pakistan, with an original gas in place (GIIP) estimate of 2.38 TCF. Over the years, with the phased development of the Field and subsequent reservoir evaluations, the GIIP of the Field was enhanced to 10.751TCF, thus making Mari one of the largest gas fields in Pakistan in terms of balance reserves.

In May 1983, the Fauji Foundation, a major Pakistani group, along with OGDCL (Oil and Gas Development Company, Ltd.) and theGovernment of Pakistan acquired the entire business operation of Esso Eastern Inc. in Pakistan, which included the Mari Gas Field.

During December 1984, the business was reorganized and incorporated as Mari Petroleum Company Limited, and it acquired the assets, liabilities and operational control of the Mari Gas Field. MPCL primarily operated as a production company until 1997, when it began the phased development of the Habib Rahi Reservoir to supply gas for new fertilizer plants. The company also simultaneously pursued appraisal activities within its Mari D&P Lease by drilling stepout wells to determine the boundaries of the Habib Rahi Reservoir.

The hallmark of MPCL’s growth and expansion is also represented by its entry into exploration activities in 2001.

DistinctionsThe Company has the highest well success ratio of any E&P company in Pakistan (1:1.44, or 69.23%) compared to other companies (which average 1:3.3, or 30.1%),[2] and is also the most cost-effective. The company’s operating expenses are 7-8% of its gross sales, while other companies average operating expenses which comprise 21% of their gross sales.

ExplorationMPCL started extensive geological and geophysical exploration in 2001, often in partnerships with local and international exploration and production companies to tap indigenous hydrocarbon resources of the country. MPCL’s success ratio in 2013-14 was 100 percent as MPCL drilled five oil/gas wells and all were successful which resulted in the significant increase in the company's oil/gas production. A few months ago, MPCL share prices were trading at around Rs 174 per share, which now is trading at Rs 560 per share.

MPCL's success ratio is 1:1.4, which is high compared to other E&P companies which average 1:4; internationally the ratio is 1:8. About 78% of MPCL's gas production is dedicated to fertiliser plants, and the company is playing a very critical role in the growth of the agriculture sector. MPCL is supplying 12& of its gas to power houses while the rest is being supplied to other sectors. Currently, MPCL is working in 17 oil/gas blocks, of which 11 blocks are entirely being explored by MPCL while in other 6 blocks MPCL is a joint partner.

MPCL Operated Blocks

Mari D&P Lease; MPCL has 100% working interest Karak Block; MPCL has 60% working interest [3]

Sukkur Block; MPCL has 58.8% working interest Ziarat Block; MPCL has 10% working interest Hanna Block; MPCL has 100% working interest Harnai Block; MPCL has 100% working interest Sujawal Block; MPCL has 100% working interest Ghauri Block; MPCL has 35% working interest [4]

Zarghun South D&P Lease; MPCL has 35% working interest

MPCL Non-operated Blocks

Hala Block; MPCL has 35% working interest Kohat Block; MPCL has 20% working interest Kalchas Block; MPCL has 20% working interest Kohlu Block; MPCL has 30% working interest Bannu West; MPCL has 10% working interest Zindan Block; MPCL has 35% working interest Oman Block 43-B; MPCL has 25% working interest

ProductionFollowing is the average daily production from various fields:

Gas; 610+ MMSCF/day [5]

Oil; 500-1500 bbls/day Condensate; 180+ bbls/day LPG; 5 MT/day

ReservesThe remaining recoverable reserves of MPCL operated blocks stood more than 4.26 Trillion Cubic Feet of gas as of February 29, 2012.

Research and DevelopmentMPCL is the first Oil & Gas Company in Pakistan which has dedicated substantial funds for a number of Research & Development activities in exploration, production, health, safety and environment (HSE). Following are the projects initially undertaken for Research & Development:

Pakistan Basin Study Report Improving Cementation in Deep Wells Mitigation of Sweet Corrosion Feasibility & Design Study for Tight & Shale Gas Exploration

through Fracturing Sembar Sandstone Feasibility & Design Study for Fracturing Habib Rahi Limestone to produce from its Tight Upper

Zone Industry Academia Collaboration Environmental Protection

ListingMPCL is listed in all three Pakistani Stock Exchanges, namely the Karachi Stock Exchange (KSE), the Lahore Stock Exchange (LSE) and the Islamabad Stock Exchange (ISE).

Launch of international operations[edit]

MPCL is preparing to launch collaborative operations with international oil and gas exploration companies,[6] and has increased local gas production by 61 Million Cubic Feet per Day (mmcfd), taking it from 584 mmcfd in 2013 to 645 mmcfd in 2014. The company is also exploring opportunities to work with Central Asian countries in collaboration with the Hungarian oil/gas exploration/production company MOL Group, [7] and with the Malaysian oil and gas company PETRONAS on a joint venture basis.

Notes

1. "MPCL started as Esso Eastern Inc." .2.  Pakistan Energy Yearbook 2010 (Ministry of P & NR - HDIP)3.  Mari Gas makes major oil discovery in Mianwali4.  MPCL discovers oil reserves near Jhelum5. Mari Gas supplying 44MMSCF gas to SNGPL 6.  "MPCL is set to launch international operations - Business Recorder reports".7. MOL to buy stake in Ghauri block

Pakistan Petroleum

Pakistan Petroleum

Type State sector

Public limited company

Traded as KSE: PPL

Industry Energy

Genre Oil and gas

Founded June 5, 1950; 65 years ago

Founder Government of Pakistan

Headquarters Karachi, Sindh Province,Pakistan

Number of locations Nationwide

Area served Worldwide

Key people Hidayatullah Pirzada[1]

(Chairman)

Asim Murtaza Khan[2]

(MD and CEO)

Ministry of Petroleum and Natural

resources

Products Petroleum

Natural gas

Motor fuels

Aviation fuels

Services Service stations

Revenue Rs. 102.35 billion (2013)[3]

Operating income Rs. 50 billion (2013)[3]

Profit Rs. 180, 45,620 (2012)[3]

Total assets Rs. 39.838 million (2012)[3]

Total equity Rs. 370,024 million (2012)[3]

Owner Government of Pakistan

Number of employees

2,700

Corporate staff only[4]

Parent BP

Subsidiaries Bolan Mining Enterprises

Website www.ppl.com.pk

Pakistan Petroleum Limited (Reporting name: PPL or PP) is a multinational, global competitive and one of the largest state-owned megacorporation of Pakistan. It was incorporated on June 5, 1950, when it inherited the assets and liabilities of the Burmah Oil Company Ltd. which initially holds 70% of the share with the rest mostly held by the government of Pakistan (GoP). As of June 2011, GoP held 70.66% of the shares.

The company is headquartered in Karachi. It operates major oil and gas fields, including the Sui gas field, has non-operating interests in other fields, and has an interest in an exploration portfolio onshore and offshore. The company is now planning international exploration in partnership mode.

Global compact

PPL is a signatory of the United Nation Global Compact (UNGC), a voluntary charter set up in July 2000 by leading businesses to form platforms for business models and markets' promotion. The charter binds member companies to follow ten basic principles focusing on human rights, working conditions for employees, environmental conservation and transparency. PPL became a member of UNGC in April 2006.

Recent eventsHighlights for 2008

Sales Rs 45.7 billion, profit before tax Rs 30.4 billion, profit after tax Rs 19.7 billion, cash dividend of 55% plus 10% stock dividend.

Year 2010-2011

The company sale revenue increased by 31% to PKR 78.3 billion. PPL made a profit after tax of PKR 31.4 billion showing and increase of 35% over the previous financial year. Rising international prices and depreciation of the rupee against US dollar coupled with the positive oil-to-gas sales mix attributed to this profitability to rise all-time high earning per share of PKR 26.21

AwardsPPl secured five major corporate awards in 2011:

Best corporate report award for annual report 2009 Corporate philanthropy award KSE (Karachi Stock Exchange) top 25 companies award MAP (Management Association of Pakistan) corporate association award SAFA (South Asian Federation of Accountants) award for best annual report 2009

OperationsPPL is operator and shares 100% in two fields:

Kandhkot gas field was hit by flood in August, 2010 and one of the gas gathering mains (GGM) submerged completely and two GGMs partly. There were 25 producing wells out of which 15 were shut-in. Production from the field dropped to 70 MMscfd (million standard cubic feet per day) from the peak of 195 MMscfd of gas. Eight wells were bought into operation by September 2010. After repairs, production increased to 160 MMscfd. Two additional wells brought into operation by mid October, 2010 adding 30 MMscfd of gas thereby increased available production to 190 MMscfd. In December 2010, compression station began commercial operation to maintain contractual delivery pressure and enhance recovery ratio.

Sui gas field  is under depletion phase, gas sales during the financial year 2010-2011 was 170,805 MMscf against 177,574 MMscf in 2009-2010. Production commenced from two development wells and a third well spud-in during the fiscal year 2010-2011. Drilling of well Sui-92U was started in March 2010. The well was drilled up to the depth of 2,128 meters in the Pab reservoir and was successfully completed as a single string producer from Sui upper limestone (SUL) in December 2010. Drilling of well Sui-89M started in January 2011 and was completed in February 2011. Sui-93M was drilled as a horizontal well using under-balanced drilling technology in the reservoir for the first time in the country to optimize field production. Well drilling started in March 2011 and completed in July 2011.

Partners operated producing fields

Block 2669-3 (Latif) Block 2668-4 (Gambat) Block-2768-3 (Block-22) Block 3370-3 (Tal)

Manzalai field Makori field Mamikhel discovery Maramzai discovery Makori East discovery Tolang discovery

Block 3370-10 (Nashpa) Miano gas field Qadirpur gas field Sawan gas field

Bolan Mining EnterprisesBolan Mining Enterprises is a joint venture on equal basis between Pakistan Petroleum and the government of Baluchistan (GoB). A grinding mill having a capacity of 50,000 tonnes per year was set up and has met almost 80% of the total barytes required by oil exportation companies operating in Pakistan. Bolan barytes are produced in accordance with the American Petroleum Institute specifications. BME has been authorized by API to use their 'official momogram' on BME barytes.

During the financial year 2010-2011, the sales of barytes was 41,316 tonnes and BME earned a pre-tax profit of PKR 138.864 million from barytes project Khuzdar as compared to PKR 148.800 million earned in 2009-2010. A sum of PKR 27.440 million appropriated towards reserves for development and expansion. The company's net 50% share of the profit was PKR 55.712 million during the financial period 2010-2011.

References

1.  PPL. "Chairman of Pakistan Petroleum".2. PPL. "CEO and MD of PPL".3.  b c d e PPL, Government of Pakistan. "Annual financial report of Pakistan

Petroleum". Government of Pakistan. Pakistan Petroluem. Retrieved 18 July 2013.4.  "Corporate Staff of PPL". Pakistan Petroleum Limited (PPL) employs around 2,700 staff

stationed at various office and operational locations across the country.

Oil and Gas Development Company

Oil and Gas Development Corporation

Type Public

Traded   as KSE: OGDC

LSE: OGDC

Industry Oil and gas

Founded April 4, 1961

Headquarters Islamabad, Pakistan

Area served Pakistan

Key people Zahid Muzzafar

(Chairman)[1]

Products Fuels, Natural gas

Revenue  US$ 2.12 billion (2013)[2]

Net income  US$ 1.50 billion (2013)[3]

Total assets  US$ 3.93 billion (2013)[3]

Total equity  US$ 3.07 Billion (2013)[3]

Number of employees 11,000 [4]

Website OGDCL.com

Oil and Gas Development Company Limited commonly known as OGDCL is a Pakistani multinational oil and gas company. It has primary listing on Karachi Stock Exchange, and secondary listings on London, Lahore and Islamabad stock exchanges. Established in 1961 by the Government of Pakistan, it was turned into a public listed company on 23 October 1997. Today it is involved in exploring, drilling, refining and selling oil and gas in Pakistan. It is the market leader in terms of reserves, production and acreage.[5]It is based on Jinnah Avenue, Blue Area in Islamabad, with the Government of Pakistan holding 74% stake in the company. Rest are held by private investors. In 2013, it has revenue of Rs. 223.365 billion and profit before tax soaring at Rs. 90.777 billion.[6]

It has repeatedly ranked among the Forbes Global 2000.[7]

ListingOn May 4, 2009, the government of Pakistan appointed a Citigroup-led consortium to advise the state-run Privatisation Commission on the sale of 10 to 15 per cent (or 430 to 645 million shares) of the company. OGDCL is the second Pakistani company to have been listed at the London Stock Exchange. The company is also listed in Pakistan at all the three exchanges of the country namely Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE).

Business challenges and risksOGDCL is exposed to the following operational and non-operational risks that can unfavourably affect its operations and financial performance.

Crude oil price Environmental risks Exploration and drilling risks Exchange rate Law and order Legislation Reserve Depletion Under performance of oil and gas field

The company managed to drill more than one third of the total wells drilled in the country during 2010. The company managed to drill more than one third of the total wells drilled in the country during 2010. In addition to that, OGDCL was also joint venture partner in sixteen wells drilled by other operators.

Discoveries and explorationDuring the fiscal year ended June 30, 2006 the Company made several oil and gas discoveries, including at Nim-1, Dars Deep-1, Tando Allah Yar North-1, Kunnar Deep-1 and Bahu-1. OGDCL's daily production, including share from joint ventures averaged 39,659 barrels (6,305.3 m3) of oil; 937 million cubic feet (26,500,000 m3) of gas, and 358 metric tons of liquefied petroleum gas. The Company holds exploration acreage comprising 40 exploration licenses covering an area of 75,905

square kilometers, including 16 exploration licenses covering an area of 28,066 square kilometers granted to OGDCL during fiscal 2006.[2] During 2009-2010, the company acquired four new exploration blocks (Channi Pull, Jandran west, Lakhi Rud and Mari east), covering area of around 4,795 Square kilometers. Three exploration licenses namely Khiranwala, Thatta and Thatta east were surrendered and operatorship of offshore Indus-S was transferred to BP Alpha.

EmployeesThe company has 11,000 employees on its payroll. OGDCL has some of the finest professionals but due to the failure of top management the full potential of OGDCL was never utilized to the benefit of Pakistan. Had these professionals been utilized wisely and on merit; today Pakistan would be self-sufficient in energy.

OISTThe OGDCL Institute of Science & Technology was established in 1979 in Islamabad. In 1986 the OIST (formerly OGTI) relocated to the I-9 sector of Islamabad. The OIST has played an important role in field training. In March, 2013 the OGTI under the name OGDCL Institute of Science and Technology was allowed to award degrees.

HighlightsFinancial 2014[8]

The company's sales revenue increased by 15.06% to PKR 257.01 billion (2012-13: PKR 223.37 billion)

Net realized prices of crude oil and gas averaged US$87.71/barrel and PKR 282.95/Mcf respectively (2012-13: US$83.40/barrel and PKR 265.87/Mcf)

Profit of the company before taxation rose by 17.4% to PKR 172.35 billion (2012-13: PKR 146.81 billion)

After tax profit of the company rose by 35.76% to PKR 123.91 billion (2012-13: PKR 91.27 billion)

Earnings per share increased to PKR 28.81 (2012-13: PKR 21.22) The company declared dividend of PKR 9.25 per share (2012-13: PKR 8.25 per share) Total assets of the company increased to PKR 496.23 billion from PKR 413.93 billion The company contributed PKR 132.26 billion to national exchequer (2008-09: PKR 129.62

billion).

Operational

The company made six oil, gas/condensate discoveries namely Reti-1A, Baloch-1, Dakhni-11, Maru-1, Nashpa-1 and Shah-1

The company commenced production from Baloch-1 Nashpa-1, and Pakhro-1 Crude oil production of the company on working interest basis averaged 40,367 barrels

(6,417.8 m3) per day (2013-14) Gas production of the company on working interest basis averaged 1,136.4×106 cu ft

(32,180,000 m3) per day (2013-14) LPG product on working interest basis averaged 202 metric tons per day During the year, the company acquired 2493 L. km of 2-D seismic data in Bagh South, Bitrism,

Dhakni, Guddu, Mari East, Mianwali, Nashpa, Nim, Thando Allah Yar, Thano Beg and Thal concessions, 290 km² of 3-D seismic data in Soghri concession and Toot Mining Lease by

running five seismic crews having latest technologies and equipped with quality control software for on-site data processing during the surveys

Forty well locations were marked on ground and twenty six wells including thirteen exploratory, two appraisal and eleven development were spudded by the company.

Market capitalization]

In early 2007, the company had a market capitalization of PKR 51.9 Billion in Karachi Stock Exchange.

Non-operated joint ventures

Adhi field; OGDCL has 50% stake and Pakistan Petroleum Limited (PPL) is the operator of the field

Badar field; OGDCL has 50% working interest and PEL (Pakistan Exploration private Limited) is the operator

Badin-II, Badin-II revised and Badin-III fields; OGDCL has 49%, 24% and 15% stake respectively. BP Pakistan (British Petroleum Pakistan) is the operator

Badhra, Bhit and Kadanwari fields; OGDCL has 20%, 20% and 50% working interest respectively and ENI (Eni Pakistan Limited) is the operator

Bangali, Dhurnal and Ratana fields; OGDCL working interest is 50%, 20% and 25% respectively and M/s OPII is the operator

Miano field; OGDCL has 52% stake and OMV (OMV Pakistan Exploration GmbH) is the operator of the field. During 2009-10, three wells were put on production

Pindori field; OGDCL holds 50% working interest and POL (Pakistan Oilfields Limited) is the operator

Sara and Suri fields; OGDCL has 40% stake in the fields and Tullow Pakistan is operating these fields

TAL Block; OGDCL working interest is 27.76% and MOL Pakistan (MOL Pakistan Oil and Gas BV) is the operator.

ReservesThe remaining recoverable reserves of OGDCL stood more than 142 million barrels (22,600,000 m3) of oil and 9,997 billion cubic feet 9,997 billion cubic feet (283.1 km3) of gas as of June 30, 2010.

References

1.  "ODGCL - Board of Directors". http://www.brecorder.com/top-stories/0/1181256/. Retrieved May 9, 2014.

2.  "Oil & Gas Development investor face sheet" (PDF). Forbes. June 30, 2013.3.  b c "Oil & Gas Development on the Forbes 2000 List". Forbes. April 1, 2012.4.  "OGDCL 04-09-07 - 1.pdf" (PDF). Retrieved 2011-09-24.5.  OGDCL’s revenue increased to Rs 223.365 billion6.  Oil & Gas Development

External links

Oil and Gas Development Company Limited

Forbes report on OGDC privatization OGDCL Pakistan starts trading at London Stock Exchange