OGDCL, PSO sign deal for 30mln litres HSD supply

KARACHI: The Oil and Gas Development Company Limited (OGDCL), being the largest exploration and production company of Pakistan in the public sector, has signed an agreement with Pakistan State Oil (PSO) for the supply of 25 to 30 million litres annually high-speed diesel (HSD) to meet its operational requirements at fields, plants and drilling rigs, a statement said on Wednesday.

OGDCL managing director / chief executive officer Zahid Mir said that the company is looking for sustainable and viable agreements with the national and international partners to make Oil and Gas Development Company Limited a truly E&P company.

This agreement will help Oil and Gas Development Company Limited in uninterrupted operations at field locations across the country and would effectively contribute to enhance the indigenous hydrocarbon production to reduce the import bill on account of crude oil, the statement said.

PSO managing director / CEO Sheikh Imran-ul Haque said that the company takes immense pride in signing this agreement with an icon organisation of Pakistan. “Our joining hands will bring in synergies in our shared national agenda with MoE to help accelerate the economic well being of Pakistan,” he added.

Pakistan State Oil has a longstanding history of ensuring corporations, such as Pakistan Railways (PR) , Pakistan International Airlines (PIA), Sindh Engro Coal Mining Company (SECMC), Port Qasim and now Oil and Gas Development Company Limited with an uninterrupted supply of quality petroleum products.

“Signing the agreement is indeed a further testament of our unwavering commitment to serve our valued customers 24x7x365, as they being their journey and to keep the wheels of industry moving every day, and also in those situations when our competition struggles to meet national fuel demand as was ably demonstrated by the Pakistan State Oil last month,” he said.