AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
ISLAMABAD: Pakistan Oil Fields (POL) announced a significant decline in its financial performance for the fiscal year 2025 during an analyst briefing. The company reported a standalone net profit after tax (NPAT) of PKR 24.2 billion, equating to earnings per share (EPS) of PKR 85.2. This represents a 38% decrease compared to the previous year, attributed primarily to reduced hydrocarbon production and a drop in oil prices.
Production at the Razgir site has commenced, achieving a rate of 28 million cubic feet per day (mmcfd), with the potential to increase to 35 mmcfd. Both Razgir and Mamikhel fields are currently selling gas to third parties, securing a 16% premium over the pricing outlined in the Petroleum Policy 2012.
POL is actively drilling two wells in the Jhandial Block and sidetracking Pindori-9, with a discovery anticipated soon at one of the wells. The company has indicated that further drilling in Jhandial will depend on the results of ongoing operations. POL is also engaged in seismic activities across several blocks, including Pariwali, Ikhlas, Noor, and Langrial.
The information was provided by AKD Securities Limited following the analyst briefing, highlighting both the challenges and ongoing efforts of Pakistan Oil Fields in maintaining and expanding its operations.