KPOGCL, a nascent oil and gas exploration and production company, brainchild of Chief Minister KP Pervez Khattak and bred by Minister Energy KP Atif Khan has entered the league of Oil and Gas producers with a big bang.
OGDCL/KPOGCL Joint Venture has discovered a large Oil and Gas reserves in Baratai area, near Kohat. It is also interesting to note that province of KP produces 55% of the indigenous crude oil against only 33% four years ago, when PTI Government took over. Duo of Pervez Khattak and Atif Khan also provided an out of the box enabling environment thus reaping fruits of “zero’ load shedding in KP; with all the CNG open 24/7/365.
The oil & gas production and KPOGCL could become the top most success story of PTI in Pakistan. Sources state that, Chairman PTI Imran Khan, CM Pervez Khattak and Minister Atif Khan took personal interest in creating the enabling environment in a number of areas of which Oil and Gas production in KP via KPOGCL is a live physical example.
The Minister of Energy nurtured KPOGCL with a vision to increase royalties and other revenue streams for KP, much needed for developing infrastructure of KP.
Billions of dollars of investment is also flowing in KP Oil and Gas Sector with same International and National Companies rush into KP geological regions and refineries. The way PTI is supporting Oil and Gas Exploration and downstream utilization of oil & gas, the GDP curve shows that KP will be 45% of the Pakistan GDP, whereas it is only 10% now. Seems like PTI has a well thought plan to explore Oil and Gas for the benefit of the masses. One main reason for PTI success is merit, no interference and accountability.
KP has more than six (06) applications for establishment of Oil Refineries and four (04) applications for Fertilizer Plants and one (01) application for Propylene & Poly Propylene Plant in KP. Fact of life is that, business community is moving towards KP due to good governance, red carpet and opportunities. The Lahore & Karachi business communities are in fact looking for no-harassment type of government, which PTI champions thus KP is now epicenter for business rush.
KPOGCL. KPOGCL operations started in 2014, and yet in 2017 KPOGCL outshined its industry peers and presented remarkable results through rejuvenating dormant blocks, creating enabling environment through unmatched security conduit, acquiring minority shares in six (06) blocks, identifying eight (08) new blocks and attracting interests of foreign and national investors.
These achievements caused not only rise in oil and gas production but millions of dollars of investments has either been already done or is in the pipeline such as 27 out of 28 blocks are active and there is rush for investment in oil refineries and fertilizers plant only in KP while no such in other provinces. While one large province is thriving investment via tax money PSDP and CPEC but KP is thriving on performance.
Government of KP via KPOGCL has embarked on an important journey to exploreoil & gas resources of KP which is estimated at 1.1 Billion Barrels of crude oil and 16 Trillion Cubic Feet (TCF) of natural gas, it can easily be translated into today’s monetary value of $100 Billion USD or Rs. 10 Trillion.
KPOGCL has envisioned increasing KP’s crude oil production, natural gas production and LPG production by 200,000 barrels per day, 2,000 million cubic feet per day and 3,000 tons per day, respectively by the year 2025. The enabling environment by PTI Government assures the achievement of these targets and most of all providing Energy Security of Pakistan.
OGDCL/KPOGCL Joint Venture has made Baratai Well a success with the discovery of massive Oil & Gas reserves estimated to produce about 30 MMCFD of natural gas and 700 Barrel of Crude Oil/Condensate.
With the vision to discover natural resources of KP, KPOGCL took initiative for drilling projects and signed agreement with OGDCL in Baratai Block. Seismic Data was acquired, processed and interpreted by the mutual working of KPOGCL & OGDCL technical teams. After several technical meetings, workshops and seismic reinterpretation, drilling was commenced on 24th May, 2017. The Well was drilled in a record time of 199 days.
Baratai Discovery is a landmark achievement of PTI Government and KPOGCL for having provided the enabling environment. KPOGCL is the first Provincial Holding Oil & Gas Company to start its production via JV.
The discovery will generate over a Billion rupees per annum revenues for Government of Khyber Pakhtunkhwa in the form of Royalty etc. KPOGCL has achieved this all because of the utmost support of Chief Minister Pervez Khattak, Energy Minister Atif Khan, Chief Secretary Azam Khan & Energy Secretary Naeem Khan.
The vision 2025 set by Government of KP for Oil & Gas Sector i.e. 200,000 BPD of Crude Oil and 2,000 MMCFD of gas, is now looking achievable even before 2025. Sources have said that the Baratai Well-2 is planned to be drilled within the next 6 Months which upon success will further bring the Government closer to its 2025 targets.