ISLAMABAD  -   The Oil and Gas Development Company Limited (OGDCL) is confident to meet its drilling target set for the year 2018-19 to make the country self-sufficient in hydrocarbon reserves, official sources said Thursday.

“The company has the target to drill 15 explratory/appraisal and six developmental wells during the current year, for which currently around 15 rigs are operating in its different fields,” they told APP.

They said the company was busy in carrying out extensive exploration activities in potential areas with a fleet of nine owned and six hired drilling rigs.

During first quarter of the current year, the sources said, the company had injected four new oil and gas wells, producing 32,197 barrels crude oil and 555 mmcf gas in its production gathering system. Injected wells include Khirun-1, Nandpur-1, Kunnar-12 and Qadirpur-59, having cumulative production of 32,197 barrels oil and 555 mmcf,” official sources told APP.

During the period, they said, the company made two oil and gas discoveries namely Chanda-1 and Mela-5 in district Kohat, KPK province. From the new finds expected cumulative daily production potential was 795 barrels of oil and 2.45 mmcf gas.

The OGDCL has also completed 256L. Kms of 2D and 251Sq. Kms of 3D seismic data acquisition in its operational blocks to assess potential of hydrocarbon reserves. The company’s average daily net crude oil production clocked at 40,729 bpd (barrel per day) and gas production stood at 1,044 mmcfd (million cubic feet per day).

Answering a question, the sources said the second quarter report was being compiled and would be shared with media at the earliest.