Rigs hiring normal practice: OGDCL

Oil and Gas Development Company Limited (OGDCL) has clarified a news item headlined “OGDCL paying huge rent in difficult times” published in The News on June 21, 2011.

It said that OGDCL has seven drilling and one work-over rigs. It said drilling and production activities were accelerated in Pakistan in 2002 and 2003.

In order to meet the drilling targets, OGDCL has been hiring rigs according to the requirement since 2002, it said. “Hiring of contractor rigs is an international practice and no company can have and maintain the costly rigs and equipment in number according to their fiscal year demand.”

From: The News