Inside Financial Markets

OGDCL awards contract to Chinese company

Oil and Gas Development Company Limited (OGDCL) has awarded a contract to BSS Petrochemical Equipment Company China through local partner Gas Tech International for designing, manufacturing, supplying and commissioning of Hot Oil Package for its Uch-II Development project.

The cost of the project is around $12 million. The production package comprises of four units of heaters along with hot oil circulation pumps, skids, sump and expansion vessel etc. The package includes complete instrumentation with PLC-based logic control. The system has already been installed and commissioned in December 2016 by the commissioning engineers of BSS along with OGDCL team.

This is one of the largest Hot oil package plan ever commissioned in Pakistan’s oil and gas plants and also the project come across with many challenges during its execution but in the end it was commissioned very effectively and it was great effort and achievement of the milestone from the manufacturer – BSS with the help of Gas Tech International to complete this massive process plant.

OGDCL has become able to produce 300mmscfd gas into national natural gas system, which will help to bridge the demand-supply gap to some extent and reduce gas consumption load to domestic and commercial customers. The company is hopeful that the ongoing exploration of will lead to new discoveries and fortify the OGDCL reserves portfolio besides ensuring long term sustainability of the organisation and meting the need of the country’s energy.

During the last several years, the Company spuds more than 45 exploratory wells respectively, adding 944mmcfd of gas into the gas gird. However, it is noted that the current drilling figure is 40 percent higher than it was three years ago.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)