OGDCL achieves new milestone

KARACHI: Oil and Gas Development Company Limited (OGDCL), the country’s most valuable firm, produced a record 50,000 barrels per day (bpd) of crude oil in November, it said on Wednesday.

“OGDCL, the largest E&P (exploration and production) company in Pakistan achieved highest ever crude oil production of 50,157 barrels per day (bpd),” it said in a statement to Pakistan Stock Exchange. “Surpassing psychological barrier of 50,000 bpd was part of the company’s business plan and strategy.”

The company already achieved the 48,000bpd mark in October. It said the company is all set to inject 100 million metric cubic feet/day (mmscfd) of gas into the system during the winter season, besides 400 metric tons of liquefied petroleum gas (LPG) and 4,000 barrels of crude oil.

Ahmed Hayat Lak, the company secretary said the increase in oil production was primarily because of workover and a rising output from wellheads. Oil and Gas Development Company Limited has embarked on the course of aggressive exploration, which is evident from ongoing seismic operations in Balochistan and KPK.

For the first time in country’s history four seismic crews are working in frontier areas of Balochistan, including Pasni, Gwadar, Kharan, Zhob, Musa Khel and Lesbela. Seismic activities in Fata are also in full swing in Latamber block.

The company said ongoing exploration will lead to new discoveries and fortify Oil and Gas Development Company Limited’s reserves portfolio besides ensuring long term sustainability of the company and meeting energy demand of the country.

Lak said an additional LPG supply will come from its project in Sindh, which is nearing completion.   “The company has penciled in December-mid as an expected deadline for the project’s competition,” he said.

He added that a total of 4,000 barrel of crude oil, 400 metric tons of liquefied petroleum gas and 100 mmscfd will be produced from Kunnar Pasakhi project located in Sindh.  “After addition of 400 metric tons of LPG, the company’s total production will surpass 820 metric tons, while new gas addition will bring the tally to 200mmscfd.” 

The official said the E&P companies annually face an average seven percent decline in their reserves. “They have to ramp up discoveries from the existing wells to offset the impact.” Currently, Pakistan’s production of condensate — a lighter mixture of hydrocarbons — and crude oil stood at 100,000 barrels per day. Local gas production is estimated at 4,000 mmcfd.