OGDCL makes 4 discoveries, injects 8 operated wells in production gathering system

News Image

By MG News | May 29, 2022 at 11:16 AM GMT+05:00

0:00

May 29, 2022: The Oil and Gas Development Company Limited (OGDCL) has made four hydrocarbon discoveries, having an expected cumulative daily production potential of 39 MMCF gas and 2,850 BBL of oil, during the first nine months of the current fiscal year.

“Discoveries include Wali-1 (Kawagarh), Wali-1 (Hangu) and Wali-1 (Lockhart) in district FR Lakki, KP province and Jandran West-1 in district Kohlu, Balochistan province. Preliminary 2P reserves estimates attributable to these discoveries are 236 billion cubic feet of gas and 13 million barrels of oil, a combined 58 million barrels of oil equivalent,” according to the company’s financial report for the third quarter of the year 2021-22 available with APP.

Besides, the OGDCL injected eight operated wells, including Tando Alam-21, Sial-1, Pasakhi-12, Mangrio-2, Togh Bala2, Gundunwari-1, Pandhi-1 and Siab-1 producing 305,804 Barrel (BBL) crude oil and 3,677 Million Cubic Feet (MMCF) gas, in its production gathering system.

During the period under review, the company carried out 70 work-over jobs comprising 12 with a rig and 58 rig-less to arrest the natural decline and sustain production from mature wells.

Moreover, it completed pressure build-up survey jobs at various wells of producing fields including Mela, Pasahki, Nashpa, Qadirpur, Maru-Reti, Uch and Kunnar to induce improvement in the current well flow parameters.

The OGDCL also contributed around 48 percent, 30 percent and 38 percent towards the country's total oil, natural gas and LPG production respectively.

The company's average daily net oil and gas production clocked in at 36,173 BBL and 828 MMCF, which was 36,836 BBL and 865 MMCF in the corresponding period of the last year, respectively.

The production was impacted primarily by natural decline at Rajian, Chanda, Nashpa, KPD-TAY and Qadirpur fields.

Moreover, lower production was recorded on account of annual turnaround (ATA) at six production fields including Qadirpur, Mela, Nashpa, Sinjhoro and Uch-I & II.

Likewise, a decline in production share from NJV fields also contributed to lower output.

The company's average daily net Liquefied Petroleum Gas (LPG) production clocked in at 822 tons, which was 802 tons in the same period of last year, due to higher production mainly from Mela, Nashpa and TAY fields.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,605.00 110,965.00
109,200.00
320.00
0.29%
BRENT CRUDE 68.71 69.14
68.32
-0.40
-0.58%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.55 109.80
108.55
-0.45
-0.41%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.99 67.58
66.65
-0.46
-0.68%
SUGAR #11 WORLD 16.32 16.32
15.44
0.74
4.75%

Chart of the Day


Latest News
July 03, 2025 at 05:39 PM GMT+05:00

Gold price in Pakistan rises Rs800 per tola


July 03, 2025 at 05:17 PM GMT+05:00

Microsoft exits Pakistan after 25 years


July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL


July 03, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Holding Ground


July 03, 2025 at 04:00 PM GMT+05:00

PKR strengthens 9 paisa against USD



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg