ISLAMABAD: The Oil and Gas Development Company (OGDCL) has claimed to be the best exploration company worldwide for registering successful discoveries with finding one well productive out of four. According to the company’s official, exploration activities had been successful in Pakistan as compared to the rest of the world where companies succeeded to dig one well productive out of 10.
The company is operating with 40 producing fields of oil and gas, contributing 57 percent with 37,023 barrels of oil per day while the country’s total oil production stands at around 64,985 barrels of oil per day,” the official said.
About the current status of exploration activities, the official said the OGDCL was recently awarded four exploration licenses—two blocks in Balochistan, one in Punjab and one Sindh. Currently the OGDCL had 34 licenses including five blocks in Khyber Pakhtunkhwa, seven blocks in Punjab, 10 blocks in Balochistan, 9 in Sindh and three blocks offshore.
Recently, the OGDCL completed Pakistan Basin Study (PBS), containing important information regarding hydrocarbon exploration opportunities in the country.
According to official source the report would play an important role to enhance exploration activities in Pakistan as it provides clear picture to all exploration companies about the country’s potential in hydrocarbon.
(Pakistan Daily Time----------- Sep 29, 2011)