OGDC, Synergetic Oil Tools ink deal for heavy crude production tech
MG News | August 03, 2026 at 03:42 PM GMT+05:00
August 03, 2026 (MLN): Oil & Gas Development
Company Limited (OGDC) has signed an agreement with Canada's Synergetic Oil
Tools Inc. to deploy advanced Passive Energy Tool technology, in a plan to boost
production from Pakistan's heavy crude oil fields.
The contract signing ceremony took place at OGDC
Headquarters in Islamabad, with Canadian High Commissioner to Pakistan Tarik
Ali Khan attending as chief guest alongside OGDC MD/CEO Ahmed Hayat Lak.
Synergetic President and CEO Brian Herman joined the
ceremony virtually, while senior representatives of OGDC, the Canadian High
Commission and Synergetic were also present, APP reported.
Under the agreement, Synergetic is to deploy its Passive
Energy Tool technology across OGDC's heavy oil wells to optimise output.
The technology is
built to improve flow assurance in highly viscous crude oil wells by
fine-tuning fluid characteristics, cutting the frequency of workovers,
minimizing well downtime, lowering operating costs and reducing reliance on
production chemicals.
OGDC MD/CEO Ahmed Hayat Lak, speaking at the ceremony,
said the partnership reflected the company's commitment to adopting innovative
technologies to tackle production challenges in heavy oil reservoirs.
He said OGDC
would continue exploring opportunities with global technology providers to lift
production efficiency and maximise recovery from mature and technically
demanding fields, adding that he was confident the new technology would
meaningfully cut workover requirements and operating costs while improving
overall production performance.
Canadian High Commissioner Tarik Ali Khan underlined the
significance of Pakistan-Canada cooperation in the energy and critical minerals
sectors, voicing confidence that the technology's deployment would support the
development of Pakistan's upstream oil industry.
The collaboration marks another step in OGDC's strategy
to harness advanced technologies for improving operational efficiency, boosting
production and supporting sustainable growth in Pakistan's oil and gas sector
through international partnerships.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 178,200.02 255.20M | 1.20% 2105.91 |
| ALLSHR | 107,584.98 781.26M | 0.99% 1054.09 |
| KSE30 | 53,213.70 96.14M | 1.40% 733.48 |
| KMI30 | 251,278.11 116.52M | 1.65% 4080.05 |
| KMIALLSHR | 68,998.60 372.91M | 1.20% 820.07 |
| BKTi | 50,801.28 26.71M | 0.96% 482.11 |
| OGTi | 34,855.82 7.44M | 1.57% 539.36 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 62,735.00 | 63,970.00 62,350.00 | -395.00 -0.63% |
| BRENT CRUDE | 83.53 | 84.66 81.55 | -4.40 -5.00% |
| RICHARDS BAY COAL MONTHLY | 107.75 | 0.00 0.00 | -0.50 -0.46% |
| ROTTERDAM COAL MONTHLY | 121.60 | 0.00 0.00 | -0.40 -0.33% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 79.61 | 81.30 78.78 | -5.06 -5.98% |
| SUGAR #11 WORLD | 14.88 | 14.92 14.61 | 0.22 1.50% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
CPI