INCORPORATION AND LISTING STATUS
Pakistan Oilfields Limited (POL) was incorporated in
Pakistan on November 25,1950 as a public limited company and commenced
business in June 1952. It is listed on all three stock exchanges of the
country and its shares are eligible for transaction through Central
Depository System (CDS).
HISTORY AND OBJECTIVES
POL is the standard-bearer of The Attock Oil Company
(AOC) the parent company of POL and a pioneer in exploration and
production of oil and gas in British India. AOC was founded in 1913 and
made its first oil discovery at Khaur district Attock in 1915. POL has a
commendable tradition of work and history of successful efforts, for the
search of oil and gas to its credit.
The Company was established to undertake petroleum
exploration and prospecting licences and petroleum mining leases granted
by the Government of Pakistan. In pursuance of agreement with the
Government in 1978 POL took over the exploration and production business
of AOC in Pakistan, since then POL is investing independently and in
Joint Ventures with various E&P companies for the search of oil and
gas in the country.
Pakistan Oilfields Limited has shown a record net
profit of Rs. 2.4 billion and disbursed a 230% cash dividend (80%
interim and 150% final dividend) in addition of 80% bonus dividend for
the year 2000-2001 which was also the Golden Jubilee year of the
The Company paid 160% cash dividend (80% interim and
80% final dividend) for the year 2001-02 even on increased paid up
EXPLORATION AND PRODUCTION ACHIEVEMENTS
POL's achievements, discoveries and international
exploration efforts demonstrate its resolve to aggressively explore Oil
and Gas reserves for its growth and to meet national energy requirement.
POL discovered oil at Karsal (1960) and Meyal (1968)
in the Potwar Plateau and acquired additional concessions in the Potwar
region, in middle and lower Indus Basin in Sindh and Balochistan; recent
discoveries by POL include Pariwali (1994), Pindori (1995), Minwal
(1996) and Turkwal (1997).
The Company has an unprecedented track record of hard
work in the field of oil and gas exploration, together with its parent
company AOC it drilled 530 wells and has produced 136 million barrels of
oil, 0.5 trillion standard cubic feet of gas and 0.7 -million metric
tonnes of LPG.
POL is presently operating nine development and
production leases i.e. Pariwali, Meyal, Joyamair, Minwal, Dhulian, Khaur,
Pindori, Turkwal and Balkassar.
The company has Joint Venture agreements with
following E&P companies:
Oil & Gas Development Company Limited (OGDCL) in Pindori, Chak
Naurang, Gurgalot Block, Khushalgarh and Kotra.
Orient Petroleum Inc. in Dhurnal, Ratana and Bhangali.
Tullow Pakistan (Development) Limited in East Badin Extension Block-B.
Lasmo Oil Pak Limited in Manchar Block.
MOL Pakistan in Tal Block.
International Joint Venture with MOL Yemen Block 48 & 49.
POL is currently producing close to 10,000 BOPD, 47
MMSCFD of Gas, 160 M.Tons per day (T/D) of LPG 705 barrels per day (B/D)
Solvent Oil, and 10 T/D of Sulphur. POL net share of production averages
5,500 BOPD, 33 MMSCFD of Gas, 113 T/D of LPG, 299 B/D Solvent Oil, and
10 T/D of Sulphur. In equivalent of oil barrels POL is the third largest
producer in Pakistan.
In addition to our core business of Exploration &
Production of Oil and Gas, POL is carrying out following activities
related to its major business:
LIQUEFIED PETROLEUM GAS (LPG} AND SOLVENT OIL PLANTS
POL owns and operates plants to produce LPG and
Solvent Oil at its Meyal and Pindori fields.
Meyal plant has the capacity to process 75 MMSCFD of
gas. It caters for gas produced at Meyal, Dhulian, Pariwali (POL fields)
and Ratana (Orient Petroleum Inc. field). It produces 75 T/D of LPG and
60 B/D of Solvent Oil.
Pindori Plant was installed in the year 1997 at a
cost of US $ 6.13 million with a capacity to process 16 MMSCFD of gas,
producing 60 MTP/D of LPG and 830 B/D of solvent oil. Phase I expansion
of the plant has been done in year 2002 to increase its gas processing
capacity to 40MMSCFD.
POL also owns and operates an extensive network of
pipelines for transportation of crude oil, to Attok Refinery Limited (ARL)
at Morgah Rawalpindi from POL's own fields at Meyal, Balkassar, Dhulian,
Pariwali and OGDCL fields of Tut, Dakhni, and Fimkasar.
KHAUR CRUDE OIL DECANTING FACILITY (KCDF)
POL operates a state of the art decanting, metering
and pumping facility for crude oil, at Khaur. The crude oil is received,
from OGDCL and BPP oilfields situated in southern areas of the country,
and are pumped to ARL. This facility has 30,000 BOPD decanting and
storage and 20,000 BOPD pumping capacity.
POL has acquired 11% working interest of Government
of Pakistan in Adhi field through a bidding process. Adhi field is
located in eastern Potwar Plateau and produces at an average rate of
2400 BOPD with 18 MMSCFD of gas and 60 MT/day of LPG.
POL has two subsidiaries namely CAPGAS (Private)
Limited which is marketing LPG received from PPL's Adhi field. The
second subsidiary Attock Chemicals (Private) Limited manufactures
Mr. Shuaib A.
Malik Chief Executive & Chairman, PAKISTAN OILFIELDS LIMITED
Chief Operating Officer THE ATTOCK OIL COMPANY
Mr. Iqbal A.
F.C.A. (Engg. & Wales)
C.E. (CAPGAS) / C.E. (ACL)
Mr. Tahir Azizuddin
BSc. (Hon's); MSc. Petroleum (Geology):
DIC: MSc. Pet. Res. Eng: London.
Mr. S. M. Tasleem
BSc. (Hon's): MSc.(Geol): Kar:
DIC: M Phil Pet. Res. Engg: (Oil. Tech) London, Eng:
EST (Business Mgmt.) SAIT, ALTA Canada.
Assistant General Manager
Mr. Sadat Anis
BSc. Mech. Engg.
(Personnel & Admin)
Mr. Iqbal Mohammad
BSc. Elect. Engg.
BSc., CA (Scotland), FIFA, MICM.
Manager (Finance) and Company Secretary
MSc. Chem. MBA
Mr. Naveed Akram
BE (Chem. Eng): MS. (Pet. Eng) USA:
Mr. B. A. Shami
Mr. Naeem Ehsan
Manager (Drilling &
Mr. Jamil Asghar
BSc. Mech, Engg.
Mr. Tariq Ali Khattak
Mr. Muhammad Ali
B. Engg. Furkey), M. Engg.(Bangkok)
Manager ( Production )
CAPGAS (PRIVATE) LIMITED
CAPGAS was incorporated on June 04, 1989 and
commenced its operations in March 1991.
CAPGAS is engaged in storage, filling and
distribution of Liquefied Petroleum Gas (LPG) and has been allocated 25%
(15 tons a day) of the LPG production from Adhi field operated by PPL.
In 1999 CAPGAS has also been allocated 1.49%
(Approximately 7 tons a day) Parco's production.
Capgas has established its outlets in 66 markets with
81 distributors and is serving 46,700 consumers in NWFP/FATA, Azad
Kashmir, Northern Hilly Areas and Punjab.
The Company has a paid up capital of Rs. 6.75
million; 51% of which is being held by Pakistan Oilfields Limited and
the remaining 49% by the promoters of the CAPGAS.
ATTOCK CHEMICALS (PRIVATE) LIMITED
Attock Chemicals (Private) Limited (ACL) was formed
in 1976 for manufacturing Sulphuric Acid from Sulphur produced by
Pakistan Oilfields Limited (POL). The plant having 50 M. Tons per day
capacity was initially located at ARL, Morgah. In 1987, construction of
a new plant started at Hattar in N.W.F.P., which commenced production
Sulphuric Acid is one of the most widely used
industrial product. Apart from the Phosphatic fertilizer, explosives,
steel mills, tanneries and numerous uses in the manufacture of
chemicals, sulphuric acid is also used in agriculture for delinting
cotton seed before sowing.
In 1995 ACL started production of Oleum, which can be
used for the manufacture of a variety of new chemicals.
The paid up capital of ACL is Rs. 3.5 million; 60% of
which is held by POL and remaining 40% by Wah Industries Limited.