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Oil and Gas Development Company Limited (OGDCL) has announced the discovery of new oil and gas reserves in the provinces of Sindh and Punjab.
The company shared the details of these discoveries with the Pakistan Stock Exchange (PSX) in an official communication.
In its response, OGDCL presented the fact that it had used multi-physiochemical stimulation technology for the first time in the field of Pisakhi Oilfield VII at Hyderabad. This is cutting-edge technology that has seen crude oil production from the field go up drastically by a margin of 145 barrels daily, where production increased from 375 barrels per day to 520 barrels per day.
Moreover, OGDCL reported the first gas discovery in the Mari East Field in Rahim Yar Khan, Punjab. According to the company, the gas produced from this new field is being transported to Engro Fertilizer through a 14.5-kilometer pipeline with an output of two million standard cubic feet per day (MMSCFD) for industrial purposes.
These finds should further augment domestic energy supplies within Pakistan, with lesser dependence upon imported fuels while considerably adding up to the economy of the state through untapped natural resources exploitation.
