Karachi: The oil and gas sector in Pakistan reported a new oil discovery while facing fluctuations in production levels last month, according to a recent monthly activity report. United Energy Pakistan (UEP) identified the Aassu West-1 oil field, marking a significant addition to the country's energy resources. Meanwhile, Orient Petroleum Inc (OPI), along with partners OGDC and POL, reported a dry well with Ratana-6.

According to JS Global, the sector experienced a year-over-year increase in oil and gas production by 6% and 9%, respectively, despite disruptions in RLNG supply. However, on a month-over-month basis, oil production decreased by 2% while gas production remained unchanged. The exploratory drilling activities saw a 25% month-over-month rise, reaching 9,055 meters, whereas development drilling dropped by 37% to 2,242 meters. Additionally, 2D seismic acquisition was recorded at 36.19 kilometers, and 3D seismic acquisition showed a 33% increase month-over-month.

Renewals and extensions were granted for several fields, with Toot (OGDC) and Kandkhot Additional (PPL) receiving renewals until October 30, 2028, and January 23, 2031, respectively. Rodho (Dewan) was also granted a five-year extension to January 22, 2031.