Engineering Post Report
Oil and Gas Development Company Limited (OGDCL) is the largest exploration and production company in Pakistan’s oil and gas sector. It has the largest exploration acreage in Pakistan covering around 41 per cent of the country’s total acreage awarded till recently.
According to information available from OGDCL sources, the company has the largest portfolio of net hydrocarbon reserves in the country. During July to December 2021, the OGDL had contributed around 48 per cent, 29 per cent and 38 per cent towards country’s total oil, natural and LPG production respectively.
Average daily net saleable crude oil, gas and LP production during the year was 36788 barrels, 827 MMCF and 814 tons respectively.
Remaining recoverable reserves on net basis as on December 31,2021 were reported to be 438 MMBOE on IP basis ( Oil 48 and Gas 30) and 677 MMBOE on 2P basis (Oil 74 and Gas 603).
The OGDCL had spud six wells and four new oil and gas discoveries were made during the period under review.
Oil and Gas Development Company was established in 1961 as Oil and Gas Development Corporation (OGDC) and converted into a public limited company in 1997 , it major activities being exploration and development of oil and gas reserves in the country.
It had explored, appraised and developed 370, 46 and 419 wells respectively totaling 835 and on the made 136 discoveries.
OGDCL’s exploratory efforts had till sometime back yielded four new oil and gas recoveries; at Kawagarh, Hangu and Lockhart in Khyber Pukhtoonkhwa and Jandran in Balochistan.
OGDCL being the national flagship of the country’s Exploration and Production sector is making all out efforts to play a vital role in enhancing the energy security of Pakistan, the sources maintained.
