OGDCL injects eight new oil gas wells in production gathering system

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has injected eight new wells, producing 226,862 Barrels crude oil and 3,288 million cubic feet gas, in its production gathering system during three quarters of the last fiscal year.

Injected wells include Khirun-1, Nandpur-1, Kunnar-12, Nim-1, Loti-5, Pasakhi NE-2 and Qadirpur-59 & 60, according to the nine-month report of the company for year 2018-19 placed on its official website.

During the period, OGDCL has drilled 11 new wells, including six exploratory/appraisal and five developmental, and made two discoveries.

OGDCL's exploratory endeavors to find new hydrocarbon reserves, yielded two oil and gas discoveries namely Chanda-1 and Mela-5, both in Kohat district of Khyber Pakhtunkhwa from where cumulative daily production of 795 barrels (bbl) oil and 2.45 million cubic feet (MMCF) gas was expected.

OGDCL’s net sales have increased to Rs 192.047 billion as compared to Rs 147.712 billion in the same period of 2017-18 while, its net profit after taxation stood at Rs 85.312 billion against Rs 56.821 billion of nine months of the corresponding year.

The company, being the country’s leading oil and gas exploration company, has completed 707 Line Kms of 2D and 620 Sq. Kms of 3D seismic surveys during the period under review.

The company’s net crude oil production stood at 40,952 barrels per day (BPD), net gas production 1,010 MMCFD, net LPG production of 819 metric ton (MT) per day and net Sulphur production of 63 MT per Day.

The Company during nine months, contributed around 45% and 29% of Country's total oil and gas production, respectively.

Meanwhile, the company announced to strike two more oil and gas discoveries, one each in May and July.

In May, it struck a discovery in Tando Muhammad Khan district of Sindh province, where the initial well test indicated 10.44 MMCFD gas and 120 barrels per day condensate oil.

Whereas in the current month, the company made a find at its exploratory well Pandhi-01 in Bitrism block of District Sanghar, Sindh, from where initial test revealed flow of 9.12 Million Standard Cubic Feet per Day gas and 520 BPD.