OGDCL – Energy Giant of Pakistan

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Oil and Gas Development Company Limited (OGDCL) is the largest E&P Public Limited Company listed on all three stock exchanges of the country, with a market capitalization of $ 3.982 billion, 74.82% owned by the Government of Pakistan and rest by the general public, the company stock has 17.38% weight age in KSE 100 Index. The company has interests in total of 34 concessions and it holds the largest oil (48%) and gas (37%) reserves in the country.

 

Company’s share in country’s total oil and gas production stands at 57% & 23% respectively with current production level of 36,716 barrels of oil per day and 850 MMCF gas per day (excluding production share from non-operated joint ventures).

 

OGDCL’s financial performance has been consistently improving since becoming a self financing entity. The Company’s net sale was Rs 142 billion and net profit of the company was Rs. 59 billion after taxation of last fiscal year 2009-10. OGDCL contributed Rs 80 billion in the form of tax, royalty, dividends, GST, Excise Duty and Development Surcharge in the government exchequer for the same period. The company has 34 active exploration licenses and 45 active Development and Production plus mining leases. Out of 279,376 sqkm, OGDCL’s share of exploration acreage comes to 61,084 sqkm. During the year 2009-10, 40 wells locations were marked out of which 26 wells were spudded and six discoveries of hydrocarbon were made namely Nashpa-1, Reti-1A & Maru-1, Baloch-1, Shah-1, Dakhni-11. Subsequently in July 2010, two gas discoveries have been made by the Company at Gopang-I and Sheikhan-1.

 

Development Projects

 

Qadirpur Compression Project

OGDCL is the operator of Qadirpur gas field, which is the third largest field in Pakistan, with 75% working interest. The field is located in district Ghotki of Sindh province and is on production since 1995. Production rate from the Qadirpur field has been on the decline due to decrease in reservoir pressure. To arrest the natural decline in the field, OGDCL Management has undertaken to install fourteen (14) reciprocating compressors and later on relocation of three (3) more compressors from Pirkoh Gasfield. All the fourteen (14) compressors have been installed and commissioned at the field since Octohber 2010 and the field is currently producing around 650MMCF day of gas.

 

Uch-II Development Project

The Uch Gas Field is located about 67 kms South-East of Dera Bugti in Balochistan province. OGDCL has drilled fifteen (15) wells and is supplying 72,000 million Btu gas per day to Uch power Limited (UPL). After carrying out detailed study of Uch Gasfield, it was envisaged that OGDCL can commit an additional 160 MMcfd of gas for 25 years to a power producer. Hence, Uch-II Development Project is planned by the Company. Gas Sales Agreement (GSA) has been signed between OGDCL and Uch Power Limited (UPL) on January 20, 2011 and OGDCL is committeed to supply 160 MMCF day of gas to Uch –II by September, 2014. After completion of the project, the sale gas from Uch gas field will be enhanced from 250 MMcfd to 410 MMcfd.

 

Dakhni Expansion Project

Dakhni Gas Processing Plant started commercial production in early 1990 with a design capacity of 30 MMcfd of sour feed gas. Over the years, the composition of H2S contents of raw gas has increased considerably resulting in processing limitation on the existing plan. Due to this change the existing plant is currently processing 24 MMcf day of sour feed gas and 30 MMCF day of sweet gas. Project is expected to be completed by December 2011. The production after the expansion will be sales gas: 49 MMcfd, condensate: 1600 barrels per day, sulphur: 95-100 M. Tons/day and LPG: 25 Tons/day.

 

Sinjhoro Development Project

The Project is located in district Sanghar 65 Kilomter North East of Hyderabad, Sindh. The surface facilities to be installed by the Company include gas gathering system for fourteen (14 wells, sales gas line from Sinjhoro to Bobi field, gas treatment plant, LPG recovery and compression system etc. However, OGDCL Management has decided to develop the field on its own by relocating Dhodak plant to Sinjhoro in two phases. Phase-I will be completed in November, 2011 and OGDCL will produce 1400 BOP day oil, 16 MMCF/day of gas and 50-60 Tons/day of LPG. Phase-II will be completed in march, 2012 and the after that the field production will enhance 3000-3500 BOPD, 35-30 MMCF/day of gas and 120-140 M.Tons/day of LPG.

 

Kunnar & Pasahki Deep (KPD)/Tando Allah Yar (AY) Integrated Development Project

The fields are located about 25 kms from Hyderabad city, Sindh province. KPD-TAY Integrated Development Project will be developed by OGDCL The objective of the project is to install gas processing facility to process raw gas from Kunnar and Pasahki Deep (KPD) and Tando Allah Yar (TAY) gas/condensate fields to supply processed sale gas to Sui Southern Gas Company Limited (SSGCL) and to extract condensate and LPG. The gas processing plant will be installed adjacent to Company’s existing Kunnar LPG Plant. OGDCL Management has decided to go for KPD-TAY Integrated Development Project on EPCC basis. Bids have been opened and one currently under evaluation. The project is expected to be completed by August 2013 and expected production will be : 284 MMcfd of gas 4,400 BOP/day, 400 Barrels of NGL and 387 M. Tons/day of LPG.

 

Jhal Magsi Project

Jhal Magsi Field located in Dera Murad Jamali, was discovered in 2003. It is a joint venture among OGDCL, GHPL and POL. Three (3) wells have been drilled, out of which two (2) wells are producers. The project is expected to be completed by May 2012 and will produce 15 MMcfd of gas.

 

The company performance for the last five years with rig availability and the wells which were spudded in June of every reporting year is given below:

 

Year Wells spudded Wells spudded in June Discoveries Made
2005-06 30 09 06
2006-07 41 16 10
2007-08 31 9 5
2008-09 30 7 2
2009-10 26 7 6

 

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