OGDCL to Undertake Offshore Exploration in Arabian Sea

Monday, October 01, 2007
After successful onshore oil and gas exploration, the Oil and Gas Development Company Limited (OGDCL) will soon undertake offshore oil and gas exploration in the Arabian Sea, Managing Director of the Company, Arshad Nasar recently indicated. For this purpose, an exploration license with government holdings and petroleum production sharing agreement with OGDCL has been signed by the government over a block covering an area of 1,492 square kilometres located in the Arabian Sea. In an interview, the MD said the company will invest an amount of $1.14m during the first two years of the initial term of the license. Nasar said the company has succeeded to spud 50 wells last year and is 100 percent owner in 28 exploration blocks. In addition, he indicated it is the operator as well as working interest owner in other 13 exploration blocks and partner in another six exploration blocks operated by other exploration and production companies. OGDCL is also currently operating 39 Mining and Development and Production Leases and is partner in 33 non-operated Mining and Development and Production Leases. OGDCL has so far completed major development projects like Dhodak Development Project, Dhaki Development Project, Pirkoh Development Project, Nandpur/Panjpir Development Project, Sadqal Gas Compression Project, Uch Development Project and Bobi Development Project, he added. He said company’s equipment base includes seven drilling rigs, two work over rigs, a geological field party, four seismic parties, four engineering field parties, a gas gathering and pipeline construction party, seismic data processing centre, geological analysis laboratory, wireline logging unit, cementing units and data logging unit. [Source: http://www.dailytimes.com.pk]

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Cambodia Urged ASEAN to Avoid Words That Escalate Tension

Cambodia advised a grouping of South East Asian nations to avoid using words that "would escalate tension between China and the Philippines" in a weekend statement,

Summer Cruise to North Sea Oil Rigs Amazes Tourists

Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway,

Staying Afloat Down Under?

In recent years, Australia has been a major growth area for offshore gas production and a key driver of offshore CAPEX, says Clarksons Research.   However, the

Container Ships

Diana Containerships in Red, Suspends Dividend

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping

Panama Canal: Assessing the Risk & Reward

The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016.

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0691 sec (14 req/sec)