Tuesday, November 29, 2022

OGDCL remains industry leader

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) maintained its position as the market leader in the upstream petroleum sector by securing maximum acreage nationwide for drilling new wells, a statement said on Friday.

The Petroleum Concession director general has communicated the provisional award of new exploration blocks to OGDCL, it added.

The energy giant would work as an operator in 10 blocks and as a joint venture partner with Mari Petroleum and Pakistan Petroleum Limited (PPL) in one block.

These blocks have been awarded after competitive bidding, based on the work units committed by different E&P companies in the block bidding round 2020 arranged by the government of Pakistan, it said.

OGDCL is keen to explore new blocks in Balochistan and has won three blocks in the province, Killa Saifullah, Sharan and Suleiman.

The company has taken aggressive initiatives regarding exploration and production activities, despite security challenges. In addition to three blocks in Balochistan, five blocks in Punjab, two in Sindh and one in KP have also been awarded to the company. Further formalities for the award of these blocks will be completed soon, it added.

Source: The News

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