Presentation-Corporate Briefing Session 2024

Pakistan Oilfields Limited

Corporate Briefing Session - 2024

ABOUT COMPANY

• Pakistan Oilfields Limited (POL) is a leading oil and gas exploration and production company listed on Pakistan Stock Exchange. The Company's prime focus is to deliver performance through excellence in the field of exploration, drilling and production of crude oil and gas.
• Pakistan Oilfields Limited (POL), a subsidiary of The Attock Oil Company Limited (AOC), was incorporated on November 25, 1950. AOC was founded in 1913 and made its first oil discovery in 1915 at Khaur, District Attock. AOC has, therefore, pioneered exploration and production of oil and gas in this region nearly a century ago. In 1978, POL took over the exploration and production business of AOC. 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.

• POL plants also manufacture LPG, solvent oil and Sulphur. The Company markets LPG under its brand name POLGAS as well through its subsidiary CAPGAS (Private) Ltd.
• POL operates a network of pipelines for transportation of crude oil. Khaur Crude Oil Decanting Facility (KCDF) continued to operate satisfactorily. During the year, a total of 9.0 million barrels of crude oil from Nashpa, TAL Blocks and others were pumped to Attock Refinery Limited through this facility and pipeline.
• In 2005, the Company acquired a 25% share in National Refinery Limited, the only refining complex in the country producing lube base oils in addition to fuel products.

Products

Crude Oil

Solvent Oil

Natural Gas

Sulphur

LPG

Associated Companies

• National Refinery Limited (NRL) - 25% holding
• Attock Petroleum Limited (APL) - 7% holding
• Attock Information Technology Services (AITSL) - 10% holding
• Attock Refinery Limited (ARL)
• Attock Cement Pakistan Limited (ACPL)
• Attock Gen. Limited (AGL)

Strategic / Operational

Developments

Producing Blocks

At Ikhlas block (operated by POL with 80% share), drilling of Jhandial-03 well was commenced on October 12, 2023 and the well was drilled till the depth of 17,778 feet in base Lockhart Formation. Jhandial-03 well was drilled with the objective to appraise the already discovered hydrocarbons in Sakesar formation (Eocene) and to explore the potential of deeper Lockhart and Patala formations (Paleocene).

Balkassar Deep-1A well was spudded on April 26, 2023, after encountering different problems well target depth was declared, tested. Based on unsuccessful result the well has been plugged and Rig has been released in July 2024.

Producing Blocks

At Pindori Lease (operated by POL with a 35% share), 3D seismic acquisition project of 60 square kilometers has been completed and data processing is in progress to evaluate the prospectivity of Chorgali formation and to evaluate the possibility to produce un-drained oil.

At Tal block (operated by MOL where POL has pre commerciality share of 25%), Makori Deep -3 well has been approved and well site preparation is in progress.

Adhi South-05 well, jet pump has been retrieved and the well has been put on gas lift and this well is producing around 200 barrels of oil per day.