OGDCL spuds four wells, makes three discoveries
Business
OGDCL spuds four wells, makes three discoveries
ISLAMABAD (Dunya News) – Oil and Gas Development Company Limited (OGDCL) has drilled four exploratory wells and made three discoveries with an expected production potential of 3,007 BPD oil and 2.7 MMCFD gas during first half of the current fiscal year, ending on December 31, 2022.
"OGDCL has spud 4 wells including 3 exploratory wells; Shahpurabad-1, Chak 20-1 & Gaja Wah-1 and 1 development well; Chanda-7, and it discovered three oil and gas reserves in Toot Deep-1 in district Attock, Punjab province and Chak 5 Dim South-3 and Kot Nawab-1 in district Sanghar of Sindh province," said the company's first-half financial report for the year 2022-23.
Moreover, the company completed the drilling and testing of six wells pertaining to previous fiscal years.
During the period under review, OGDCL produced around 33,061 BOPD, 772 MMCFD gas and 730 TDP LPG.
The production witnessed a little decline as compared to 36,788 Barrel per Day (BPD) oil, 827 Metric Million Cubic Feet per Day (MMCFD) gas, and 814 Tons per Day (TPD) Liquefied Petroleum Gas (LPG) during the same period of the year 2021-22 due to certain reasons.
The company said it, being the national flagship of the country's Exploration and Production (E&P) sector, was making all-out efforts to play a pivotal role in enhancing the energy security of Pakistan.
"In this context, the company during July 2022 to December 2022 contributed around 46%, 29% and 37% towards the country's total oil, natural gas and LPG production respectively," it said.
As of December 31, the company operated 49 exploration blocks, out of which 23 were with 100 per cent share and 26 under joint ventures.
