OGDC, Baker Hughes sign deal to boost output from mature oil, gas fields
Profit by Pakistan Today • • 1 min read
Oil and Gas Development Company (OGDC) has entered into a deal with Baker Hughes, a US energy technology firm, to bring older oil and gas wells back into production. According to Profit, the arrangement was finalised at the company's Islamabad headquarters and forms part of its Production Optimisation Drive. Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad and US Chargé d'Affaires Natalie A. Baker attended the ceremony as chief guests.
Under the terms, Baker Hughes will supply technical know-how, advanced technology and integrated services to help OGDC spot output potential in mature fields where natural production is falling. OGDC MD/CEO Ahmed Hayat Lak said the company is working with global service providers to lift output and bolster the country's energy supply.
Baker Hughes called the agreement a milestone in US-Pakistan energy cooperation, and Ahmad said it is aimed at raising domestic oil and gas output. The announcement does not include financial terms or a timeline for the work.
At a glance
- OGDC signed a deal with Baker Hughes to revive older oil and gas wells.
- The agreement targets mature fields where output is declining naturally.
- Baker Hughes will supply technical expertise and advanced technologies.
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Originally reported by Profit by Pakistan Today
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