Pakistan Oilfields Limited

Pakistan Oilfields Limited (POL) promoted by the Attock Oil Co. Ltd. (AOC) was incorporated on November 25, 1950 as a Pakistan Oil Exploration and Production Co, subsequent to the promulgation of the Pakistan Petroleum Production Rules 1949. The Attock Oil Company had been engaged in oil exploration and production since the early part of last century and had discovered oil at Khaur. (1915), Dhulian (1936), Joya Mair (1944) and Balkassar (1946) in the Potwar region. POL discovered oil at Karsal (1960) and Meyal (1968) in the Potwar Plateau.

Under an agreement, signed in November 07, 1978 with the Government of Pakistan POL took over from the AOC the entire oil and gas exploration, production, gas processing and transmission activities. Currently the company is quoted on all of three Stock Exchanges of Pakistan.

POL is actively engaged in oil and gas exploration in Central Potwar, Cholistan, Khudadad, Southern Sindh and Khushalgarh Concessions as an Operator.

In 1999, the company completed processing of 100 square kilometer of 3-D seismic data in Balkassar and Pindori fields. In Central Potwar and Minwal, 250 line kin, and in Southern Sindh block, 775 lines km of seismic data was processed.

POL operates Eight Developments and Productions Leases over Balkassar, Dhulian, Joya Mair, Turkwal, Meyal, Minwal, Pariwali, and Pindori fields. POL has exploration and production joint ventures with Oil and Gas Development Corporation Limited (OGDCL) in the Chak Naurang field. Orient Petroleum Inc, in the Dhurnal, Bhangali, and Ratana fields and Tullow Pakistan (Development) Ltd. in the East Badin Extention Block-B, (Sara and Sun) Concessions Area.

In the last five years, POL achieved new oil and gas discoveries at Pariwali (1994), Pindori (1995), Minwal (1996) and Turkwal (1997) in the Potwar Plateau of the Upper Indus Basin. POL participated as Joint Venture Partner with Tullow in the SARA Gas discovery (1994) and SURI Gas discovery (1997) in the Middle Indus Basin.

In addition to exploration and production for hydrocarbons, the company also manufacturers and sells Liquefied Petroleum Gas (LPG) Sulphur and Solvent Oil. The LPG plant at Meyal not only processes the gas from Meyal but also gas from Ratana and Pariwali fields. POL holds marketing incense for LPG and is selling bottle LPG under the brand name of POLGAS.

While POL's main activity is exploration and production of oil and gas, it also operates and extensive pipeline network for transportation of crude oil and has two subsidiary companies, namely Attock Chemicals (Pvt) Ltd. (ACL) for the manufacture of Sulphuric Acid and CAPGAS (Pvt) Limited, engaged in the marketing and distribution of Liquefied Petroleum Gas (LPG), POL also owns and operates a deep drilling rig.

Pakistan Oilfields Limited and its parent company (AOC) have produced from inception to --date a total of 131 million barrels of oil and 472 billion cubic feet of gas from the Potwar region.

POL continues to pursue an aggressive oil and gas exploration programme in Pakistan. Company's net average daily production for the first nine months of 1999 was 3,679 BOP/D of oil, 26 MMSCFID of gas, 80 M.tonnes/day of LPG, 6 M.tons/day of Sulphuric Acid and 235BPD of Solvent Oil.