Oil and Gas Development Company Limited (OGDCL) has set a target to achieve natural gas production of 865 million cubic feet per day, according to official sources. The company aims to promote development in the energy sector and move towards greater energy independence by utilizing local resources.
Natural gas production target set at 865 million cubic feet per day
LAHORE, Mar 08 (APP):Oil and Gas Development Company Limited (OGDCL) has set a target to achieve natural gas production of 865 million cubic feet per day, according to official sources.The company aims to promote development in the energy sector and move towards greater energy independence by utilizing local resources.
Sources said the Special Investment Facilitation Council (SIFC) was also playing a key role in promoting energy independence and supporting the development of the oil and gas sector. In this regard, OGDCL was striving to increase crude oil production by 14 per cent, targeting output of 40,000 barrels per day.
Experts believe that, amid the global energy crisis, exploring alternative energy sources from domestic resources and developing local reserves through national oil companies was a positive step.
Pakistan’s Oil and Gas Development Company was actively pursuing initiatives to boost local production in a bid to strengthen energy security.
Energy sector expert Muhammad Arif told APP that increasing reliance on national oil companies during the current economic challenges would help reduce oil and gas imports.
He said local discoveries were a positive development for the energy sector, adding that the Government of Pakistan and SIFC were taking proactive measures to promote growth in the energy sector and support economic stability.
