The News reported that the Oil and Gas Development Company Limited is conducting evaluation of different overseas exploration blocs and making efforts to acquire exploration blocs in Commonwealth of Independent States, Africa and China.

Mr Ch Mohammad Shafi Arshad chairman of OGDCL said that “In this respect, various investment proposals are under consideration through joint ministerial conferences. Being a state owned entity, OGDCL is cognisant of its responsibility to play its part in meeting the growing demands of oil and gas in the country.”

For this purpose, OGDCL is continuously engaged in making utmost efforts to explore new possibilities and drive functional excellence across the life cycle of exploration, development and production while continuing to focus on building technical capability for the future.

In addition, the company’s management is actively involved in expediting the completion process of the ongoing development projects, namely KPD-TAY, Sinjhoro, Dakhni, Uch-II, Jhal Magsi and Nashpa and Mela. The potential completion of these development projects would lead to substantial enhancement in crude oil, gas and liquefied petroleum gas production in the near future.

In terms of recoverable hydrocarbon reserves, hydrocarbon production and exploration acreage, OGDCL is the largest exploration and production company of Pakistan. The company holds the largest portfolio of recoverable hydrocarbon reserves in Pakistan at 31% of natural gas reserves and 48% of oil reserves respectively as of December 31st 2011.

Source - The News.com

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