Daily Times

Oil and Gas Development Company Limited (OGDCL), Pakistan’s flagship exploration and production company listed on Pakistan Stock Exchange & London Stock Exchange, continued to contribute significantly towards the overall oil and gas production portfolio of the country during the last year, according to a press release issued by the company.

The company remains a market leader in Oil & Gas production, contributing 48% in oil, 27% in gas & 37% in LPG production of the country. The company has made contribution of Rs. 130 billion to the national exchequer during 2019-20. During the quarter ended 31st December 2020, OGDCL successfully added oil and gas to the tune of 2666 barrels per day of oil, 82.0 MMSCFD of gas and 77 Metric tons per day of LPG.

During this short span, OGDCL has not only added production from new wells but also enhanced its production through optimization of production from already producing wells. According to the figures, OGDCL has acquired 1566 Barrels of additional oil and 71 MMSCFD of additional gas by injecting wells while 1100 Barrels of oil and 11 MMSCFD of gas production enhanced through other efforts. The company also enhanced production of LPG and added 77 MTD in the system. This production enhancement by injecting 14 new wells from all over Pakistan and adding substantial oil and gas in the national grid in short span of time was only possible due to dynamic leadership of MD/CEO of OGDCL and his team.

The newly injected wells and substantial increase in oil and gas production will not only add to the hydrocarbon in the network but will also bring significant savings to the exchequer in the form of import substitution. The increase in oil & gas production is also likely to help in mitigating ever growing demand of domestic consumers and industry.