{"id":15343,"date":"2025-02-21T07:15:44","date_gmt":"2025-02-21T07:15:44","guid":{"rendered":"https:\/\/gsrra.com\/?p=15343"},"modified":"2025-02-21T07:15:45","modified_gmt":"2025-02-21T07:15:45","slug":"technological-innovation-adds-10000-barrels-to-ogdcls-oil-output","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=15343","title":{"rendered":"Technological innovation adds 10,000 barrels to OGDCL\u2019s oil output"},"content":{"rendered":"\n

If four more companies adopt similar technological advancements, Pakistan may no longer require IMF programs for financial stability, says Musadik Malik<\/em><\/strong><\/p>\n\n\n\n

ISLAMABAD: Federal Minister for Petroleum Dr. Musadik Malik on Thursday highlighted the transformative impact of technology on Pakistan\u2019s energy sector, revealing that a single innovation has led to a 10,000-barrel increase in oil production by Oil and Gas Development Company Limited (OGDCL).<\/p>\n\n\n\n

Speaking at a celebration event organized by OGDCL and Schlumberger, he emphasized the potential of such advancements to reshape the country\u2019s financial future.<\/p>\n\n\n\n

\u201cIf four more companies adopt similar technological advancements, Pakistan may no longer require International Monetary Fund (IMF) programs for financial stability,\u201d he stated. He further noted that $250 million worth of innovation has been introduced into the sector, describing it as the beginning of a silent revolution driven by cutting-edge technology.<\/p>\n\n\n\n

Commending Schlumberger for its contributions, Malik said that Pakistan\u2019s energy sector is undergoing a transformation. \u201cWe are implementing key changes across industries, and energy is at the forefront,\u201d he added.<\/p>\n\n\n\n

He outlined three major initiatives in the sector\u2014indigenization, electrification, and deregulation\u2014explaining that they are aimed at fostering economic stability and self-reliance.<\/p>\n\n\n\n

\u201cIndigenization means producing locally what we currently import,\u201d he explained. \u201cElectrification involves integrating all energy sources\u2014renewables, green, blue, and brown\u2014into a single system in line with the global shift toward electric power.\u201d<\/p>\n\n\n\n

He also emphasized deregulation as a critical step for fostering private-sector growth, citing international models where research, technology, and commercialization work together to drive innovation.<\/p>\n\n\n\n

\u201cWhen this innovation reaches OGDCL, the silent revolution we have been discussing becomes visible,\u201d he said. He also highlighted the Prime Minister\u2019s directive to eliminate unnecessary regulations that hinder business operations.<\/p>\n\n\n\n

\u201cWe have seen how people struggle for months, sometimes years, to obtain approvals for petrol stations and small industries. Under the PM\u2019s plan, only essential regulations will remain, and the rest will be scrapped,\u201d he stated.<\/p>\n\n\n\n

Malik further detailed the government\u2019s approach to deregulation, explaining that instead of removing regulations selectively, four essential rules will be defined for each economic activity, eliminating all unnecessary restrictions. \u201cThis is how deregulation will drive the economy forward,\u201d he said.<\/p>\n\n\n\n

He also spoke about downsizing efforts in the petroleum sector, saying that a special committee is reviewing government institutions to assess their workforce requirements and efficiency. \u201cThe focus is on outcomes rather than bureaucratic hierarchies,\u201d he noted.<\/p>\n\n\n\n

Criticizing Pakistan Tehreek-e-Insaf (PTI) for what he described as attempts to undermine the country\u2019s economy on the international stage, Malik questioned, \u201cWho asks the IMF not to support their own country? Who wants their own nation to go bankrupt? When you pass resolutions abroad, they do not mention any political party; they target Pakistan itself.\u201d<\/p>\n\n\n\n

He condemned actions that could destabilize Pakistan\u2019s financial credibility and emphasized recent economic improvements. \u201cInflation has dropped from 40% to 3%, and interest rates have declined from 24%, making it easier for businesses to borrow,\u201d he stated.<\/p>\n\n\n\n

\u201cWhen interest rates drop, companies invest, hire more workers, and introduce innovations. This creates jobs for Pakistani engineers and strengthens industries.\u201d<\/p>\n\n\n\n

Calling for a constructive national debate focused on economic progress rather than political hostility, Malik concluded, \u201cPakistan\u2019s progress should not be sacrificed for political rivalry. Reforms are underway, and the country is moving towards economic stability\u2014but some are too focused on creating chaos to acknowledge these changes.\u201d<\/p>\n\n\n\n

Reference Link:- https:\/\/profit.pakistantoday.com.pk\/2025\/02\/20\/technological-innovation-adds-10000-barrels-to-ogdcls-oil-output\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If four more companies adopt similar technological advancements, Pakistan may no longer require IMF programs for financial stability, says Musadik Malik ISLAMABAD: Federal Minister for Petroleum Dr. Musadik Malik on Thursday highlighted the transformative impact of technology on Pakistan\u2019s energy sector, revealing that a single innovation has led to a 10,000-barrel increase in oil production […]<\/p>\n","protected":false},"author":1,"featured_media":15344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[13076,132,62,105,13078,2642,13074,13077,36,13075,13079,13080],"class_list":["post-15343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-application-of-modern-technologies","tag-economy","tag-energy","tag-geopolitics-2","tag-imf-program","tag-oil-gas","tag-oil-output","tag-output-enhanced","tag-pakistan","tag-technological-innovation","tag-technological-innovation-adds-10","tag-000-barrels-to-ogdcls-oil-output"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/15343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15343"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/15343\/revisions"}],"predecessor-version":[{"id":15345,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/15343\/revisions\/15345"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/15344"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}