ISLAMABAD: Pakistan’s Oil & Gas Development Company Limited (OGDCL) has revived production at heavy oil well Rajian-11 by installing an advanced air lift system, state broadcaster Radio Pakistan said on Monday.

Extending to 3,774 meters, work at Rajian-11 had been suspended since 2020 due to formation challenges, the company’s filing on PSX said last week. 

The oil field is located in District Chakwal and fully owned and operated by OGDCL under Gujar Khan E.L. It was discovered in August 1994 and has remained a key asset in the company’s portfolio.

Crude oil production in Pakistan increased to 64 BBL/D/1K (barrels of crude oil per day per 1,000) in November 2024 from 62 BBL/D/1K in October of 2024. Crude oil production in Pakistan averaged 68.67 BBL/D/1K from 1993 until 2024, reaching an all time high of 97.00 BBL/D/1K in December of 2016 and a record low of 50.00 BBL/D/1K in April of 1999, according to the US Energy Information Administration.

“OGDCL has started oil production from the Rajian-11 heavy oil well located in Chakwal district,” Radio Pakistan reported. 

“Rajian-11 heavy oil well had been inactive since 2020 but it has been reactivated with the help of an advanced artificial lift system,” the broadcaster added, referring to the installation of an Electrical Submersible Pump (ESP).

The well is expected to produce one thousand barrels of oil per day.

ESP systems are a common and efficient way to lift oil and gas from wells that are too deep or have low pressure for natural flow. A submersible electric motor is placed at the bottom of the well, and it drives a multistage centrifugal pump that lifts the fluids. ESPs are suitable for wells with low bottomhole pressure, low gas/oil ratio, high water cut, and low API gravity fluids.

“This achievement underscores OGDCL’s commitment to maximizing hydrocarbon recovery and operational efficiency, reinforcing its position as a leader in Pakistan’s energy sector,” OGDCL’s PSX filing said. 

“The Company successfully completed the well with an ESP in Tobra, Jutana, and Sakesar formations, restoring production to 1,000 barrels per day (BPD) of oil.”

ISLAMABAD: The Competition Commission of Pakistan (CCP) recently approved a pre-merger application to establish a joint venture between the state-owned National Logistics Corporation (NLC) and the United Arab Emirates’ DP World to enhance and modernize the South Asian country’s logistics sector, state-run media reported. 

DP World, which operates in over 75 countries and specializes in port operations, terminal management and logistics services, is involved heavily in improving Pakistan’s logistics sector. As per an agreement signed in January 2024, DP World will carry out infrastructure improvement at Qasim International Container Terminal, Pakistan’s leading trade gateway.

It is also involved in the Karachi Freight Corridor, an infrastructure project in Pakistan aimed at improving the movement of freight from the port city to various parts of the country.

“The Competition Commission of Pakistan (CCP) has approved the pre-merger application for the establishment of a joint venture between National Logistics Corporation (NLC) and DP World Logistics FZE (DWLF),” state-run Associated Press of Pakistan (APP) reported on Sunday. 

It said that the investment, facilitated by Pakistan’s top investment body Special Investment Facilitation Council (SIFC), aims to enhance the country’s logistics and freight industry while ensuring fair competition in the market.

The state-run media said the transaction involves NLC acquiring a 60 percent equity stake in the joint venture and DWLF holding the remaining 40 percent.

“The venture aims to enhance Pakistan’s road freight logistics sector by leveraging NLC’s domestic expertise and DP World’s global supply chain solutions,” APP said. 

The CCP determined that the transaction does not result in a “substantial lessening of competition” or the creation of a dominant market position, adding that its analysis concluded that the market remains competitive with multiple players ensuring continued competition despite the merger.

“The joint venture highlights Pakistan’s growing appeal for foreign investment in logistics,” APP said. “It is expected to improve infrastructure, lower transport costs, and boost Pakistan’s trade competitiveness in the region.”

The UAE is Pakistan’s third-largest trading partner after China and the United States, and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. It is also home to more than a million Pakistani expatriates.

In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure.