OGDCL spuds eight new wells
The company listed net crude oil production of 40,028 barrels per day
Dunya News Report (Jibran Dost)
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) is focused to meet the country’s increasing energy demands with spudding eight new wells during the half year ended December 31, 2015. These wells include two appraised wells and six development spudded wells during the same year.
The company listed net crude oil production of 40,028 barrels per day, net gas 1,116 MMcf per day, net LPG 312 Metric Tons per day and net Sulphur production stood at 28 Metric Tons per day during the phase.
Apart from the company’s exploratory efforts that yielded two new oil and gas discoveries namely Chak Naurang South-1 in district Chakwal and Aradin-1 in district Khairpur in Sindh, OGDCL was consumed in carrying out a broad study with assistance from an international consultant to assess shale gas, oil and tight gas and oil potential in its operated blocks.
In its chase to achieve new growth opportunities, OGDCL’s concentrated exploratory efforts continued during the reporting period and it acquired 2,816 Line km (1H 2014-15: 2,354 Line km) of 2D and 1,545 sq km (1H 2014-15: 508 sq km) of 3D seismic data in various exploratory blocks.
In contrast, Chairman Pakistan Tehreek-i-Insaf (PTI) Imran Khan has blamed the federal government for not giving No-Objection Certificate (NoC) to gas companies that have discovered six different locations of gas reservoirs in Khyber Pakhtunkhwa (KP).
According to KP Oil and Gas Development Corporation Limited (KPOGDCL) officials, the company Hycarbex of America is looking forward to invest $ 100 million in oil and gas exploration, but the government has been reluctant in giving permission for starting work.
At the same time, Imran Khan stated that instead of investing Rs 200 billion on Orange Line project, the federal government should direct investments towards exploration and production of oil and gas reservoirs in KP.
On the other hand, KPOGDCL officials while updating the PTI chief Imran Khan on the developments expressed that KP has rich sources of oil and gas. The KP government has made serious efforts to create an atmosphere that can draw attention of foreign businesses and international oil exploration companies to the province.
Oil production in two years has increased from 30,000 to 50,000 barrels per day. Gas production has increased from 333 to 400 million cubic feet per day while LPG production from 10 tons per day to 510 tons per day, the officials said.
Out of 21 Petroleum Concession Blocks only three were active in 2013 whereas 20 blocks are being opened for work in 2016.
However, the province still faces as much as 18 hours of gas load shedding. Whereas KP’s major share in electricity generation does not benefit the province as well.
On the other side, Federal Petroleum Minister expressed that gas shortage in the country has grown up to 40 per cent of the total demand. Federal Minister Petroleum and Natural Resources Shahid Khaqan Abbasi stated that this year’s crisis is worse than last year’s. Sui Northern Gas Pipelines and Sui Southern Gas Company are unable to fill the gap between the supply and demand. He also added that the government is not in a position to solve the problem.
