Karachi, May 10, 2024 – Pakistan’s energy landscape received a significant boost as the Oil and Gas Development Company Limited (OGDCL) announced the commencement of gas production at the Togh-02 well situated in Kohat, Khyber Pakhtunkhwa.
The new well is expected to substantially contribute to the nation’s energy security and fuel its economic growth.
Positioned within the Lumshiwal-I Formation, Togh-02 has started delivering 70 barrels of condensate and 8 million standard cubic feet per day (MMSCFD) of natural gas. This promising output is being channeled directly into the extensive network managed by Sui Northern Gas Pipelines Limited (SNGPL), which is the premier gas distributor across Pakistan.
The initiation of gas production from Togh-02 not only aligns with OGDCL’s strategic growth plans but also forecasts significant economic advantages for Pakistan. “This venture is designed to enhance shareholder value and fulfill our mission of bolstering the national energy reserves,” said an OGDCL official. “We estimate the operation at Togh-02 will generate more than $38 million in annual foreign exchange savings, considerably reducing our reliance on imported energy.”
Energy experts have hailed the development as a pivotal advancement for Pakistan, which has struggled with persistent energy shortages amid rising domestic demands. The additional gas supply from Togh-02 is expected to alleviate some of the current deficits, ensuring a more stable energy supply across the region.
Moreover, the economic implications of this development are significant. The reduction in energy imports will not only conserve foreign exchange reserves but also stabilize the local currency by reducing the trade deficit. Such financial dynamics are crucial for Pakistan as it navigates through economic recovery and aims for sustainable growth.
OGDCL’s success at Togh-02 underscores its commitment to exploring and exploiting domestic energy resources, thereby enhancing national energy security. “Our focus remains on expanding Pakistan’s energy portfolio through strategic development of indigenous resources,” the official added. “This is key to ensuring the country’s autonomy over its energy future.”
The operational start at Togh-02 marks a commendable milestone in Pakistan’s pursuit of energy self-sufficiency. It showcases OGDCL’s pivotal role in the nation’s energy sector and underscores the importance of continued investment and exploration activities to meet the burgeoning energy needs. With these ongoing initiatives, Pakistan is setting a foundational stone towards achieving greater economic stability and energy independence.
