Islamabad: The Oil and Gas Development Company Limited (OGDCL) increasing oil daily production to 10,000 barrel reached from 26,000 barrel to 36,000 barrel by using technology for stopping reduction in oil reserves of the country.
With the use of technology 5000 barrel yearly reduction has been halted from the oil wells.
The OGDCL officials apprised that the company started work with a new technology on 12 oil wells . The officials further apprised that the production of 5000 barrels were increased using the technology from old wells.
The OGDCL with the use of ESP technology made increasing production possible, the officials said. The officials went on to say the company has a target of up-ticking the daily production up to 50000 barrels.
The OGDCL has prepared a plan for more 14 wells while study is underway on 18 more.The officials said that the technology will be used on 47 wills in the hiatus of two years.
It is pertinent to mention here that the oil reserves of the OGDCL were declining seven percent yearly.
On the other hand, on use technology for increasing gas reservoir a study is also underway.The OGDCL officials apprised that there is a target of 1000 MMCF gas production as well as halting the decrease in gas reservoirs.
The officials said that other companies also working on use of technology.
