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OGDCL

The Oil and Gas Development Company Limited (OGDCL)

 

The Oil and Gas Development Company Limited (OGDCL) recently announced the successful completion of its Khewari (Suleman 1 & 2) Development Project. This announcement, disclosed in a filing to the Pakistan Stock Exchange (PSX) on Wednesday, marks a significant development in Pakistan’s energy sector. The project is expected to produce 10 million standard cubic feet per day (MMSCFD) of gas, contributing notably to the nation’s gas supply.

Currently, the project is delivering 7 MMSCFD of gas, processed at the Sinjhoro Plant located in the Sanghar District, Sindh. This output is anticipated to increase to its maximum capacity shortly. OGDCL stated that the wells are undergoing a choke optimization process, which is aimed at enhancing the gas supply further.

In an effort to expedite the first gas injection, OGDCL adopted a fast-track strategy. This involved laying a 6-inch diameter pipeline over a distance of 14.5 kilometers, connecting the gathering facility near Suleman-1 to the Chabaro Tie-in point.

The Khewari project represents a joint effort, with OGDCL serving as the operator and holding a 77.50% stake in the venture. The remaining 22.50% is owned by Government Holdings Private Limited (GHPL).

Additionally, OGDCL has made strides in revitalizing the Jhal Magsi Gas project earlier this year. The gas processing plant of this project, boasting a capacity to produce 13.7 MMSCF of process gas and 45 barrels per day of condensate, is set to alleviate some of the growing energy demands in Pakistan.

In terms of financial performance, OGDCL reported net sales of Rs 120.141 billion for the first quarter of the fiscal year 2024