ISLAMABAD - Oil and Gas Development Company (OGDCL) has injected 17 new oil and gas wells, producing 359,267 barrels crude oil and 9,624 mmcf gas, in its production gathering system during three quarters of the current fiscal year.

Injected wells include Pakhro-1, Chanda-4, Dachrapur-3, Kunnar South-1, Tando Allah Yar-1, Chandio-1, Moolan-1, Resham-1, Nandpur-10, Pasakhi North-3, Khamiso-1, Daru-1, Kunnar Deep-10, Qadirpur-25A & 58, Qadirpur-HRL 12 & 14, official sources told APP. During the period under review, they said, the company made four oil and gas discoveries, having expected cumulative daily production of 47 mmcf gas and 749 barrels oil.

The OGDCL, the sources said, carried out 49 successful workover jobs at Pasakhi-1, 2 & 7 and Kunnar-9 & 10 along with rig-less workover jobs at various wells to boost oil and gas production volumes. The company's average daily net crude oil production clocked at 41,509 barrels per day and average daily net saleable gas production stood at  1,020 mmcf per day, he added. The OGDCL's net sales increased to Rs 147.712 billion as compared to Rs 126.630 billion in the corresponding period of last year.

E&P COMPANIES TO DRILL 90 OIL, GAS WELLS IN NEXT FISCAL YEAR

Oil and gas Exploration and Production (E&P) companies have planned to drill 90 wells in different areas across the country in the next fiscal year.

"Under the plan 50 exploratory and 40 development wells will be drilled in a bid to make the country self-sufficient in the energy sector," officials told APP.

Answering a question, they informed that the present government had added more than 944 million cubic feet per day (mmcfd) gas and 32,343 barrels per day (bpd) oil in the transmission network across the country through indigenous resources during its first four years.

They said Pakistan witnessed exceptional growth in petroleum sector during the period of the Pakistan Muslim League-Nawaz (PML-N) government under the bold and dynamic leadership of Muhammad Nawaz Sharif.

To another question, they said the E&P companies drilled over 179 exploratory and 194 appraisal wells, resulting in around 101 new discoveries in a period of four years, which is almost 80 per cent higher than the finds made during four years of the previous government. They said 68 finds, out of total 101 discoveries, had added proven reserves of about 5.4 tcf gas, while the calculation of 33 wells were yet to be determined. As many as 87 finds have been made in Sindh, seven each in Punjab and Khyber Pakhtunkhwa.

The government, they said encouraged the E&P companies by providing them maximum incentives to step up exploration activities in different areas.

Following which, oil and gas exploration activities registered increase by 80 per cent with 40 percent success rate, drilling of appraisal and development wells 12.8 per cent, discoveries 151.3 per cent, 2D and 3D seismic surveys by 37.2 per cent and 43.1 percent respectively, oil production 29.8 per cent, drilling in meterage 52 per cent, grant of exploration licenses and leases by 39.4 percent and 200 per cent respectively as compared to corresponding years of the previous government.