Ahsan BaigDiscovery in NASHPA X-5 expected to be online in January : Sources
Nashpa X-5 oil well from Nashpa oil field came online increasing the oil production from the field to around 24,558. Production from Nashpa X-5 well is expected around 5,000 barrel per day. OGDC and PPL have 60% and 30% stake in the Nashpa X-5 oil well. This oil well will increase EPS for OGDC by Rs. 1.5 and PPL by Rs.1.
Nashpa Oil Field was discovered in September 2009 and it is located in the Karak district of KPK province at a distance of about 40 kms from Kohat city. The field, for which the Company is operator, is a joint venture between Pakistan Petroleum Limited (28.55%), Government Holdings (Private) Limited (15%) and the Company (56.45%). All four of the wells drilled at this field are currently producing. A fifth well, Nashpa X-5, is currently being drilled. For FY 2014-15, average net daily production at the field was 11,703 bpd of oil and 44.40 MMscfd of gas. The field’s main oil customers are Attock Refinery Limited, Pak-Arab Refinery Limited and Byco Petroleum Pakistan Limited; the main gas customer is Sui Northern Gas Pipeline Company Limited.
Syed Zaki Hussain
