Daily Times

KARACHI: In order to meet the increasing demand in winters, the Oil and Gas Development Company (OGDCL) was all set to inject 100 million cubic feet of gas per day (mmscfd) in the
system.

OGDCL, the largest exploration and production company in Pakistan, would also inject 400 metric tonnes of liquefied petroleum gas (LPG) and 4,000 barrels of crude oil in the system during this winter.

While achieving a breakthrough-performance, the national Oil & Gas Company of Pakistan, has achieved highest ever crude oil production of 50,157 barrels per day as well, which was an another good news for industrial as well as domestic stakeholders and consumers.

“Surpassing psychological barrier of 50,000 bpd was part of the company’s business plan and strategy. Through sheer hard work, use of best practices and deployment of latest technology, the target has been achieved,” said the OGDCL Secretary Ahmed Hayat Lak.

He added that the company was all set to inject 100 mmscfd gas in the system during the winter season besides 400 MT of LPG and 4,000 barrels of crude oil.

Lak stated in the stock filing that OGDCL has already embarked on the course of aggressive exploration which was evident from ongoing seismic operations in Balochistan and Khyber Pakhtunkhwa (KPK). “For the first time in the country’s history four seismic crews were working in frontier areas of Balochistan including Pasni, Gwadar, Kharan, Zhob, Musa Khel and Lasbela. The seismic activities in Fata were also in full swing in Latambar Block,” he added.

OGDCL was hopeful that ongoing exploration would lead to new discoveries and fortify its reserves portfolio besides ensuring long term sustainability of the company and meeting energy demand in the country, added Lak.

On startup of utilities, completion of offsite work and commissioning of gas processing units at KPD-TAY phase-II, supply of specification gas to Sui Southern Gas Company Limited from phase-I has started with effect from 1 September, 2016, while after completion of KPD-TAY phase-II, average daily incremental production of 4,000 barrels of oil, 125 mmscfd of gas and 400 tones of LPG is geared up to inject in system.

In this backdrop, Petroleum and Natural Resources Minister Shahid Khaqan Abbasi has already announced that the government would not increase gas prices in order to provide relief for the consumers.

It was important to mention that about 466 mmscfd from new wells and an additional 478 mmscfd from existing wells were injected into the system. In addition, 11,000 barrels of oil per day through new discoveries and 21,000 barrels per day from existing fields were added to the system.

The OGDCL holds the largest exploration acreage which as of 30 September 2016 stood at 117,885 sq. km, representing 33 percent of the country’s total area under exploration. Its exploratory assets are spread across all four provinces of the country and currently constitute 61 owned and operated joint venture exploration licenses along with holding working interest in five blocks operated by other exploration and production companies.