Karachi, July 3, 2023: The Oil and Gas Development Company Limited (OGDCL), a state-owned entity in Pakistan, announced on Monday that it has received provisional awards for two new exploration blocks in Sindh and Punjab.
This development is in line with OGDCL’s strategy to invest in its core business, expedite exploratory activities, and enhance its hydrocarbon reserves.
Following its participation in a competitive bidding round for exploration blocks held on June 20, 2023, OGDCL has been provisionally granted operatorship with a 100 percent working interest in both blocks. The company has secured the Sehwan Block (2667-19) in Sindh and the Zindan-II Block (3271-9) in Punjab.
By being awarded these exploration blocks, OGDCL aims to expand its footprint in the oil and gas sector and strengthen its reserves. These new blocks offer promising prospects for the discovery of valuable hydrocarbon resources, further contributing to Pakistan’s energy security and economic growth.
As the operator, OGDCL will be responsible for conducting extensive exploration activities, which may include geological surveys, seismic data acquisition, and drilling of exploratory wells. These efforts will enable the company to assess the potential of the blocks and identify commercially viable reserves.
The addition of these blocks to OGDCL’s portfolio reaffirms the company’s commitment to harnessing Pakistan’s energy potential and meeting the growing demand for oil and gas resources. The successful acquisition of these exploration blocks reflects OGDCL’s technical expertise, financial strength, and strategic vision within the oil and gas industry.
OGDCL’s pursuit of new exploration opportunities aligns with the government’s efforts to attract investment and promote exploration and production activities in the country. It is anticipated that the exploration activities in the Sehwan and Zindan-II blocks will not only boost Pakistan’s domestic hydrocarbon production but also create employment opportunities and drive economic development in the respective regions.
As OGDCL embarks on its exploration endeavors in Sindh and Punjab, the company remains dedicated to upholding industry best practices, ensuring environmental sustainability, and adhering to stringent health and safety standards. Through responsible exploration and production, OGDCL strives to make significant contributions to the energy sector and the overall progress of Pakistan’s economy.
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