ISLAMABAD: Oil and Gas Development Company Limited (OGDC) has joined hands with US energy technology firm Baker Hughes to unlock additional oil and gas production from 18 mature assets and strengthen Pakistan’s indigenous energy supply.
OGDC signed a contract with Baker Hughes for deployment of its Mature Assets Solutions as part of the company’s Production Optimisation Drive focused on maximising output from its existing fields.
The agreement was signed at OGDC Headquarters in Islamabad in the presence of Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad and US Chargé d’Affaires Natalie A. Baker.
OGDC Managing Director and CEO Ahmed Hayat Lak and senior officials from both companies also attended the signing ceremony.
Under the agreement, Baker Hughes will provide its technical expertise, advanced technologies and integrated capabilities to help OGDC identify opportunities for increasing production from established fields and tackle challenges associated with ageing assets.
The Mature Assets Solutions are intended to help operators recover additional value from fields where production has declined naturally over time.
The initiative is significant for OGDC as the company seeks to maximise recovery from its existing portfolio rather than relying exclusively on new discoveries to increase production.
Speaking at the ceremony, Ahmed Hayat Lak said OGDC was pursuing meaningful engagements with world-class service providers to optimise its oil and gas production and strengthen Pakistan’s energy security.
He expressed confidence that the project would be implemented efficiently and would help revitalise OGDC’s mature assets.
Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad said the partnership would contribute to Pakistan’s energy security by supporting efforts to maximise indigenous oil and gas production.
US Chargé d’Affaires Natalie A. Baker termed the agreement a milestone in the US-Pakistan energy partnership, saying energy was a foundation of economic security.
She said cooperation between OGDC and Baker Hughes would advance the shared objective of strengthening Pakistan’s energy security.
Baker Hughes Global Director Mature Asset Solutions Tarik Abdelfatah said the collaboration reflected shared objectives and would enable the companies to explore new applications of technology in Pakistan.
OGDC operates 18 major mature assets, including 12 oil fields and six gas and condensate fields.
The company currently produces more than 40,000 barrels of crude oil per day, around 815 million standard cubic feet of natural gas per day, 780 metric tonnes of LPG per day and 80 metric tonnes of sulphur per day.
The partnership is expected to support efforts to improve production and recovery from these established assets as they face natural production declines.
Increasing output from existing domestic fields could help Pakistan reduce its dependence on imported energy, while enabling OGDC to derive greater value from its existing resource base.
The agreement consequently represents a technology-driven effort to enhance recovery from mature fields and strengthen the contribution of domestic oil and gas production to Pakistan’s overall energy security.
