Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production company, has signed a contract with Baker Hughes, a leading US energy technology company, to deploy Mature Assets Solutions (MAS) to revitalise ageing oil and gas wells and increase Pakistan’s indigenous hydrocarbon production.
The contract signing ceremony was held at OGDC Headquarters in Islamabad. Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad and US Chargé d’Affaires Natalie A. Baker attended the ceremony as chief guests. MD/CEO of OGDC, Ahmed Hayat Lak, alongside the senior leadership of OGDC and Baker Hughes, also attended the signing ceremony.
Mature Assets Solutions is designed to help operators unlock greater value from established fields that are experiencing natural production decline. Under the contract, Baker Hughes will bring its technical expertise, advanced technologies and integrated capabilities to support OGDC in identifying production opportunities and addressing challenges across mature assets. The partnership is part of OGDC’s comprehensive Production Optimisation Drive to maximise its existing production portfolio.
Speaking on the occasion, MD/CEO OGDC Ahmed Hayat Lak said the company was pursuing meaningful engagements with world-class service providers to optimise its oil and gas production and strengthen Pakistan’s energy security. He expressed confidence that the project would be implemented efficiently to revitalise OGDC’s mature assets.
Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad said the partnership would contribute to Pakistan’s energy security by supporting efforts to maximise indigenous oil and gas production.
US Chargé d’Affaires Natalie A. Baker described the agreement as a milestone in the US-Pakistan energy partnership. She said energy was a foundation of economic security and that collaboration between OGDC and Baker Hughes would advance the shared goal of strengthening Pakistan’s energy security. Baker Hughes’s Global Director, Mature Asset Solutions, Tarik Abdelfatah, said the collaboration reflected shared objectives and would explore new technology applications in Pakistan.
OGDC has 18 major mature assets, comprising 12 oil fields and six gas/condensate fields. The company’s current production stands at over 40,000 barrels of crude oil per day, 815 million standard cubic feet of natural gas per day, 780 metric tonnes per day (MTD) of LPG, and 80 MTD of sulphur. The partnership underscores OGDC’s commitment to maximising recovery from existing assets, increasing indigenous production and supporting Pakistan’s objective of reducing reliance on imported energy.
