OGDCL Achieves Milestone with Successful Completion of Khewari Project
Oil & Gas Development Company Limited (OGDCL), a prominent state-owned exploration and production company in Pakistan, announced a significant accomplishment as it successfully concluded the Khewari Project in Sindh. This development was disclosed in a filing to the Pakistan Stock Exchange (PSX) on Wednesday.
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According to the company's statement, OGDCL achieved the completion of the Khewari (Suleman 1 & 2) Development Project, showcasing a potential gas production capacity of 10 million standard cubic feet per day (MMSCFD). The notice emphasized that the current gas processing at the Sinjhoro Plant in the Sanghar District, Sindh, is at 7 MMSCFD and is set to be ramped up to its full potential.
OGDCL outlined its strategic approach, mentioning an ongoing optimization process for gas supply enhancement through choke optimization of the wells. The company took a fast-track strategy, expediting processes for the first gas injection by laying a 6-inch diameter pipeline covering 14.5 km from the gathering facility near Suleman-1 to the Chabaro Tie-in point.
Highlighting the collaborative nature of the venture, OGDCL operates with a 77.50% stake, while Government Holdings Private Limited (GHPL) holds the remaining 22.50% share.
Earlier this year, OGDCL revitalized the Jhal Magsi Gas project, featuring a gas processing plant with a daily capacity to produce 13.7 MMSCF process gas and 45 BBL/day condensate. This initiative aimed to address Pakistan's rising energy needs.
In its latest financial results, OGDCL reported net sales of Rs 120.141 billion during 1QFY24, concluding on September 30, 2023. The company's Profit before Taxation for the same period amounted to Rs 86.174 billion.
