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New gas reserves discovered in Balochistan
Pakistan’s Oil and Gas Development Company Limited (OGDCL) has commenced gas production from newly-discovered reserves in the district of Dera Bugti, Balochistan, with the facilitation of the State Investment and Finance Corporation (SIFC).
According to Express News, the collaboration between SIFC and OGDCL has led to important progress in the energy industry. The focus of SIFC has been to contribute to the stability and growth of Pakistan’s energy sector.
The new gas reserves were discovered in the Uch Sharif area of Dera Bugti. OGDCL drilled a well to a depth of 1,345 meters, resulting in the discovery of natural gas. The production capacity of the reserves is estimated at 5 million standard cubic feet per day.
OGDCL’s Uch Gas Processing Plant will now supply gas to Uch Power Limited, which is expected to boost the company’s economic performance with anticipated profits of up to Rs41.02 billion.
In a statement, OGDCL highlighted that the company is focused on increasing production to ensure national energy security and promote sustainable development.
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