*ISLAMABAD: *The Oil and Gas Development Company Limited (OGDCL) hasinjected eight new wells, producing 226,862 barrels crude oil and 3,288million cubic feet gas, in its production gathering system during the firstthree quarters of the last fiscal year (FY19).
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 ofthe company.
During the period, OGDCL drilled 11 new wells, including six exploratoryand five developmental, besides making two discoveries.
OGDCL’s endeavours to find new hydrocarbon reserves yielded two oil and gasdiscoveries, namely Chanda-1 and Mela-5, in Kohat, Khyber Pakhtunkwa, fromwhere a cumulative daily production of 795bbl oil and 2.45mmcf gas wasexpected.
The company’s net sales increased to Rs192.047 billion as compared toRs147.712 billion in the same period of 2017-18, while its net profit aftertaxation stood at Rs85.312 billion as against Rs56.821 billion in the firstnine months of the corresponding year (FY18).
The company completed 707 line kilometres of 2D and 620 sq. km. of 3Dseismic surveys during the period under review.
OGDCL’s net crude oil production stood at 40,952 barrels per day, net gasproduction at 1,010mmcfd, net LPG production at 819 metric tonnes per dayand net Sulphur production at 63MT per day.
With a portfolio of 42 exploration licences, the company has the largestexploration acreage in Pakistan, covering 23 per cent of the total awardedacreage as of March 31, 2019.
Currently, all production volumes are being realised from onshore areas ofPakistan, however, the company also has working interests in offshoreexploration blocks.
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Despite a natural decline and short lifting of crude oil by refineries atKunnar, KPD-TAY, Nashpa and TOC fields owing to the pile-up of furnace oilstock, OGDCL’s average net saleable crude oil production clocked at40,952bpd.
Stable oil production is primarily due to an increase in production fromPasakhi, Bobi, Chanda and Mela fields coupled with a higher share inproduction from NJV fields and start-up of production at Chutto-1.
During the period under review, technical and financial evaluation for thehiring of engineers and procurement and construction contractors for Nashpacompression project has been completed.
Regarding Dhok Hussain development project, installation work with respectto gas processing facilities has been completed and supply of gas issubject to laying of gas pipeline by SNGPL.
Likewise, up-gradation of plant facilities at Mela field and laying of gaspipeline to Nashpa plant for LPG and Natural Gas Liquid extraction are inprogress and Mela project is anticipated to be completed in December 2019.
OGDCL’s production strategy is aimed at intensifying field developmentactivities, completion of ongoing development projects and utilization ofthe latest production techniques to maintain and optimize oil and gasoutput. The company, during the nine-month period, contributed around 45pcand 29pc to country’s total oil and gas production respectively.
