Oil & Gas Development Company Limited (OGDCL) has successfully increased its daily oil production by 10,000 barrels after implementing advanced technology across multiple wells, company officials announced.

The state-owned company deployed Electric Submersible Pump (ESP) technology at 12 oil wells, effectively halting an annual decline of 5,000 barrels while simultaneously boosting production from aging wells by an additional 5,000 barrels daily.

"Daily domestic oil production has increased from 26,000 barrels to 36,000 barrels through this technological intervention," an OGDCL representative stated. The significant production boost comes as part of the company's broader strategy to enhance domestic energy resources.

According to the official announcement, OGDCL aims to further increase daily oil production to 50,000 barrels. Plans are already underway to implement the technology at 14 additional wells, while feasibility studies continue at 18 more locations. The company intends to deploy this technology across 47 wells within the next two years.

OGDCL officials explained that the initiative was prompted by concerning annual decline rates of seven percent in oil and gas reserves. "The decision to utilize advanced technology was made specifically to address these declining reserves," said a company spokesperson.

Parallel studies for implementing similar technology in the gas sector are in progress. The company has set a production target of 1,000 MMCFD (million cubic feet per day) while working to prevent further decline in gas reserves. Industry sources confirm that other energy companies operating in the region are also exploring technological solutions to boost production.

This technological upgrade represents a significant development for Pakistan's energy sector as the country works to reduce dependence on imported fuel and strengthen domestic production capabilities.