MOL Pakistan ‘quickly’ shuts down oil, gasoline manufacturing from wells after armed assault


An undated picture of a website of MOL Pakistan Oil and Gasoline Firm — MOL Pakistan’s web site
  • Each the wells have been shut down.
  • Manufacturing of hydrocarbons from remainder of the nicely is regular.
  • Terrorists attacked Manzalai-08 and Manzalai-10 nicely websites.

A day after an armed assault, MOL Pakistan Oil and Gasoline Firm on Wednesday confirmed that the manufacturing from the wells have been quickly shut down by distant entry; nevertheless, the installations are “protected”.

An armed assault at Manzalai-08 and Manzalai-10 nicely websites in Hangu District — services run by MOL Pakistan Oil and Gasoline Firm, which is a unit of Hungary’s MOL — was reported on Tuesday whereby six personnel embraced martyrdom after placing up a courageous battle.

“Each the wells needed to be shut down from Central Management Room to avert any harm from the firing inflicting manufacturing curtailment of roughly 4 (04) MMscfd of gasoline and 24 barrels per day of oil,” the corporate mentioned in a inventory submitting.

MOL Pakistan additional talked about that each one the vegetation and fields set up remained protected and manufacturing of hydrocarbons from the remainder of the nicely is regular.

Instantly after the incident occurred the corporate had confirmed that no MOL worker was current on the scene of the assault.

Fahad Rauf, head of analysis at Ismail Iqbal Securities, mentioned oil and gasoline output in Pakistan had been falling partly as a result of there had been no main discoveries, amid poor safety, rising debt issues and a scarcity of native technical experience.

He mentioned oil output had dropped 18% in 2022 in comparison with 2019, whereas gasoline manufacturing was down 14% in the identical interval.

“The nation has exploited a lot of the prevailing producing areas however will not be capable of discover belts close to the Afghan border as a result of safety state of affairs,” he mentioned.

He mentioned overseas funding and exploration exercise had picked up within the Waziristan belt however the state of affairs had worsened for the reason that US withdrawal from Afghanistan.

With overseas corporations exiting, he mentioned that “Pakistan lacks the experience and funds to faucet unconventional reserves regardless of having one of many highest shale reserves on the planet.”

— Extra enter from Reuters

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