OGDC, Baker Hughes Sign Deal to Boost Hydrocarbon Production

ISLAMABAD: (Finance Reporter) – Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production company, has signed an agreement with US-based energy technology firm Baker Hughes to deploy Mature Assets Solutions (MAS) aimed at revitalising ageing oil and gas wells and increasing domestic hydrocarbon production.

The agreement was signed at OGDC’s headquarters in Islamabad in the presence of Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad and US Chargé d’Affaires Natalie A. Baker, who attended the ceremony as chief guests.

OGDC MD and CEO Ahmed Hayat Lak, along with senior officials from OGDC and Baker Hughes, was also present at the signing ceremony.

Partnership Targets Mature Oil and Gas Assets

Baker Hughes’ Mature Assets Solutions is designed to help operators improve the performance of established fields where production has naturally declined over time.

Under the agreement, Baker Hughes will provide technical expertise, advanced technologies and integrated solutions to help OGDC identify additional production opportunities and address operational challenges across its mature assets.

The initiative forms part of OGDC’s broader Production Optimisation Drive, which focuses on improving output and maximising the value of the company’s existing production portfolio.

OGDC Eyes Higher Indigenous Production

Speaking at the ceremony, OGDC MD and CEO Ahmed Hayat Lak said the company was strengthening its engagement with leading international service providers to improve oil and gas production.

He said OGDC was focused on optimising its existing assets and enhancing Pakistan’s energy security, expressing confidence that the Baker Hughes project would be implemented effectively to revitalise mature fields.

Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad said the collaboration could support Pakistan’s efforts to increase indigenous oil and gas production and strengthen national energy security.

US Chargé d’Affaires Natalie A. Baker called the agreement an important development in the US-Pakistan energy partnership. She said energy plays a fundamental role in economic security and that cooperation between OGDC and Baker Hughes could contribute to the shared objective of strengthening Pakistan’s energy security.

Baker Hughes Global Director of Mature Asset Solutions Tarik Abdelfatah said the partnership reflected common objectives and would provide opportunities to explore new applications of technology in Pakistan.

OGDC Operates 18 Major Mature Assets

OGDC currently has 18 major mature assets, comprising 12 oil fields and six gas and condensate fields.

The company’s current production exceeds 40,000 barrels of crude oil per day, while gas output stands at 815 million standard cubic feet per day. OGDC also produces around 780 metric tonnes of LPG per day and 80 metric tonnes of sulphur per day.

The partnership is expected to support efforts to maximise recovery from OGDC’s existing fields, raise indigenous hydrocarbon output and reduce Pakistan’s dependence on imported energy.