OGDCL registers ‘significant’ oil, gas production boost during July

KARACHI: The Oil and Gas Development Company Limited (OGDCL) on Monday notified a significant increase in oil and gas production from four of its wells located in Sindh.

In a notice to the Pakistan Stock Exchange (PSX), the company shared its production boost during July 2023, attributing the enhancement to the use of “cutting-edge technologies”. OGDCL posted a total increase of 1865 BPO oil and 15.9 MMSCFD from four of its wells in different parts of Sindh.

According to details, the company registered an increase in production at Nim East-1, an exploratory well in a joint venture with OGDCL as operator (95 percent) and Government Holdings (Private) Limited (GHPL) (5 percent), located in District Tando Allah Yar, Sindh Province.

“After injecting it into the system through a 6”-12.5 Km pipeline, the well resulted in an additional production of 585 BPO oil, 7.4 MMSCFD gas, and 32 NITD LPG. The gas is being injected into Sui Southern Gas Company Limited (SSGCL) network with effect from July 20, 2023 and remained under observation till July 28, 2023,” the notice read.

OGDCL said installation of an electrical submersible pump in its 100 percent owned Pasakhi Oil Field, Well -11, situated in District Hyderabad, Sindh resulted in an incremental impact of 1010 BPO oil.

“The well is currently producing 1810 BPD oil and still under observation for optimum flow rates. The enhanced production from the well commenced with effect from July 28, 2023.”

The company also reported a production boost at Chak 2-1, an already producing exploratory well in a joint venture with OGDCL as operator (62.5 percent), GHPL (22.5 percent) and Orient Petroleum Inc. (OPI) (15 percent) located in District Sanghar, Sindh Province.

“Rigless intervention with additional perforations resulted in an increment of 140 BPO oil, 4.7 MMSCFD gas, and 11 MTD LPG,” it said. The gas is being injected into SSGCL network with effect from July 20, 2023 and remained under observation till July 28, 2023.

The production also increased at Chak-V Dim South-3, an on-production development cum exploratory well located in Chak-5 Dim South Block, District Sanghar, with OGDCL 100 percent working interest.

“Rigless intervention with new perforations resulted in incremental production of 130 BPO oil, 3.8 MMSCFD gas, and 8 MTD LPG. The gas is being injected into SSGCL network with effect from July 24, 2023 and remained under observation till July 28, 2023,” the letter stated.

OGDCL was incorporated on 23 October 1997 under the Companies Ordinance, 1984 (now the Companies Act, 2017). The Company was established to undertake exploration and development of oil and gas resources, including production and sale of oil and gas and related activities formerly carried on by Oil and Gas Development Corporation, which was established in 1961.