ISLAMABAD, April 10: Oil and Gas Development Company Limited (OGDCL) is preparing to commence production from Abu Dhabi’s Offshore Block-5 by 2027, while simultaneously ramping up domestic oil and gas production and exploring opportunities in the minerals sector, according to the company’s top executive.
Speaking to media, OGDCL’s Managing Director and CEO, Ahmed Hayat Lak, revealed that the company is progressing in its partnership with the Abu Dhabi National Oil Company (ADNOC), which was initiated in 2021 for the joint exploration and development of energy resources in the offshore block.
Lak mentioned that while the resource reserves in the block are still undergoing evaluation, the company is optimistic that production activities can be initiated within the next two years, targeting 2027 as the operational start date.
Commenting on domestic plans, Lak highlighted OGDCL’s ambition to significantly boost local production levels. “We aim to increase crude oil production from the current 37,000 barrels per day to over 50,000 barrels per day,” he said.
In parallel, the company is targeting an increase in gas output to 1 billion cubic feet per day from the current level of approximately 800 million cubic feet.
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He further noted that the company has devised a comprehensive investment strategy for tapping into tight gas reserves.
“We have developed a short-term, medium-term, and long-term strategy for investing in tight gas, especially following the government’s recent revisions in gas pricing, which have made these investments more feasible,” Lak explained.
In addition to its core oil and gas operations, OGDCL is also seeking to diversify its portfolio by expanding into the minerals sector, as part of a broader strategic vision to strengthen the company’s future sustainability and resource base.
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The developments come as part of OGDCL’s long-term growth roadmap and are aligned with Pakistan’s broader goals of increasing energy self-sufficiency and reducing reliance on imported fuels.
