OGDC posts 4.6% growth in production of oil and gas
Achieves 92% of oil, 100% of gas production target in first quarter of FY13.
ISLAMABAD:
Masood Siddiqui, managing director and chief executive officer of the Oil and Gas Development Company (OGDC), has stated that the company has achieved 4.6% growth rate in the production of oil and gas, a significant increase in exploration, and will drill 37 new wells during the current fiscal year, against 17 wells drilled last year. He was addressing the audience during a seminar organised by the Petroleum Institute of Pakistan, (PIP) at OGDCL House yesterday.
Siddiqui said that OGDCL had achieved 92% of the set target by producing 43,298 barrels of oil per day, as operations were affected by heavy rains and flooding in Balochistan and Sindh; whereas 100% of the set gas target was achieved by producing 981 million cubic feet of gas per day (mmcfd) in the first quarter of fiscal 2013.
The KPD-TAY Development Project located in Hyderabad, after completion of its first phase, is producing 110mmcfd; another 125mmcfd will be produced in second quarter of 2013 after completion of its second phase. The Sinjhoro Development Project is ready to produce 20mmcfd subject to acceptance by the Sui Southern Gas Company (SSGC), and will add 11mmcfd by the first quarter of 2013.
The Uch Development Project will start producing 240mmcfd for generating 404 megawatt of electricity in the first quarter of 2014. The Jhal Magsi Development Project will start producing 16.5mmcfd to SSGC by the last quarter of 2013.
The Mela Development Project LPG Plant will start producing 25mmcfd in the last quarter of 2013 and the Nashpha Development Project LPG Plant will add 79mmcfd in the first quarter of 2014.
Published in The Express Tribune, October 12th, 2012.
Masood Siddiqui, managing director and chief executive officer of the Oil and Gas Development Company (OGDC), has stated that the company has achieved 4.6% growth rate in the production of oil and gas, a significant increase in exploration, and will drill 37 new wells during the current fiscal year, against 17 wells drilled last year. He was addressing the audience during a seminar organised by the Petroleum Institute of Pakistan, (PIP) at OGDCL House yesterday.
Siddiqui said that OGDCL had achieved 92% of the set target by producing 43,298 barrels of oil per day, as operations were affected by heavy rains and flooding in Balochistan and Sindh; whereas 100% of the set gas target was achieved by producing 981 million cubic feet of gas per day (mmcfd) in the first quarter of fiscal 2013.
The KPD-TAY Development Project located in Hyderabad, after completion of its first phase, is producing 110mmcfd; another 125mmcfd will be produced in second quarter of 2013 after completion of its second phase. The Sinjhoro Development Project is ready to produce 20mmcfd subject to acceptance by the Sui Southern Gas Company (SSGC), and will add 11mmcfd by the first quarter of 2013.
The Uch Development Project will start producing 240mmcfd for generating 404 megawatt of electricity in the first quarter of 2014. The Jhal Magsi Development Project will start producing 16.5mmcfd to SSGC by the last quarter of 2013.
The Mela Development Project LPG Plant will start producing 25mmcfd in the last quarter of 2013 and the Nashpha Development Project LPG Plant will add 79mmcfd in the first quarter of 2014.
Published in The Express Tribune, October 12th, 2012.