AGL 40.43 Increased By ▲ 0.43 (1.08%)
AIRLINK 127.48 Increased By ▲ 0.44 (0.35%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.99 Increased By ▲ 0.55 (1.33%)
DGKC 87.80 Increased By ▲ 0.95 (1.09%)
FCCL 32.89 Increased By ▲ 0.61 (1.89%)
FFBL 65.00 Increased By ▲ 0.20 (0.31%)
FFL 10.32 Increased By ▲ 0.07 (0.68%)
HUBC 109.75 Increased By ▲ 0.18 (0.16%)
HUMNL 14.80 Increased By ▲ 0.12 (0.82%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.55 Increased By ▲ 0.09 (1.21%)
MLCF 41.76 Increased By ▲ 0.38 (0.92%)
NBP 59.99 Decreased By ▼ -0.42 (-0.7%)
OGDC 194.85 Increased By ▲ 4.75 (2.5%)
PAEL 28.21 Increased By ▲ 0.38 (1.37%)
PIBTL 7.82 Decreased By ▼ -0.01 (-0.13%)
PPL 152.30 Increased By ▲ 2.24 (1.49%)
PRL 26.78 Decreased By ▼ -0.10 (-0.37%)
PTC 16.19 Increased By ▲ 0.12 (0.75%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.62 Decreased By ▼ -0.09 (-1.17%)
TOMCL 35.50 Increased By ▲ 0.09 (0.25%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.15 Decreased By ▼ -0.26 (-1.58%)
TRG 52.76 Decreased By ▼ -0.53 (-0.99%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,951 Increased By 350.6 (1.15%)
KSE100 93,902 Increased By 546.9 (0.59%)
KSE30 29,093 Increased By 162.5 (0.56%)

Oil and Gas Development Company Limited (OGDCL), the country’s largest exploration and production (E&P) company, has initiated the production of natural gas from the Uch-35 development well, located in Dera Bugti district, Balochistan.

The company announced the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“OGDCL is pleased to announce the commencement of production from the Uch-35 development well,” read the notice.

The E&P said utilising its in-house expertise, the well was drilled to a depth of 1,345 meters, targeting the hydrocarbon potential of the Sui Main Limestone (SML) formation.

“Uch-35 is currently producing 5 million standard cubic feet per day (MMSCFD) of gas,” it shared.

The company informed that after the laying of an 8-inch diameter, 1.2-kilometer flow line, the developmental well has been connected to the OGDCL Uch Gas Processing Plant, enabling gas supply to Uch Power Limited (UPL).

“As the operator of the Uch Development & Production Lease (D&P.L) with a 100% stake, OGDCL holds a strategic position in this field, located in the Dera Bugti district of Balochistan province.

“OGDCL remains focused on synchronised exploration, drilling, and development efforts, prioritising rapid production optimisation to strengthen national energy security and promote sustainable development,” it added.

As per the company’s latest financial results, OGDCL reported a profit-after-tax (PAT) of Rs41.02 billion for the quarter ended September 30, 2024, a decline of over 16% as compared to Rs49.03 billion in the same period of the previous year.

Earnings per share (EPS) were recorded at Rs9.54 in 1QFY25 as compared to EPS of Rs11.40 in the same period of the previous year.

Last month, OGDCL discovered natural gas reserves at Shahu-1 well located in Khairpur district, Sindh.

Comments

200 characters
NAVEED Nov 13, 2024 10:12pm
coruption in oil and gas department allow them go against interest of pakistan and its people by not exploring new wells of oil and gas in the country especially in blouchistan from many decades.
thumb_up Recommended (0) reply Reply