Muhammad Rafi, Managing Director of Oil and Gas Development Company Limited (OGDCL) said the company since its inception drilled a total number of 695 wells of which 295 were exploratory wells. He said this while presenting a synopsis of OGDCL, its contributions and role in boosting up the supply of crude oil and gas in the country.
He was addressing the seventh Pakistan Energy Forum titled "Streamlining Energy Priorities for Developmental & Economic Growth" held here on Thursday. He further said that OGDCL acquired 30 exploration licenses last year and was pursuing an aggressive exploratory programme to exploit the potential in those blocks. The Company has made 103 discoveries since inception at a success ratio of 1:2.9 and highest ever seismic survey of 3,231 line kms of 2D and 782 sq kms of 3D since July 1, 2014 to-date, planned to drill 35 wells including 19 exploratory and 16 development wells during FY 2014-15.
Rafi highlighted the leadership role of OGDCL in terms of acreage, reserves and production volumes and a whopping contribution of Rs 132 billion to the national exchequer in the FY 2013-14. In his concluding remarks, Rafi said OGDCL was accelerating seismic survey and exploratory drilling with an aim to adding new oil and gas reserves and enhancing country's oil and gas production.-PR
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