Improving portfolio: OGDCL enhances exploration

As of June 30, 2014, company held the largest exploration acreage in the country covering an area of 112,794 sq. km.

ISLAMABAD:

Oil and Gas Development Company Limited (OGDCL) drilled 17 new wells including eight exploratory/appraisal wells and nine development wells during the year ended on June 30, 2014.  

“OGDCL, with an aim to enhance its exploration portfolio, holds the largest exploration acreage in the country which as of June 30, 2014 stood at 1,127,994 square km,” an official of OGDCL said.

This increase in the exploration acreage is attributable to an acquisition of 29 new exploratory blocks through competitive bidding of petroleum exploration rights by Directorate General of Petroleum Concessions, Ministry of Petroleum and Natural Resources in March 2013 and formally awarded to the Company during the reporting period.

As of June 30, 2014, the company held the largest exploration acreage in the country covering an area of 112,794 sq. km.

This includes 62 owned and operated exploration licences.

Published in The Express Tribune, September 6^th, 2014.

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