{"id":42475,"date":"2025-02-20T15:00:09","date_gmt":"2025-02-20T15:00:09","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/live\/?p=42475"},"modified":"2025-02-20T15:00:09","modified_gmt":"2025-02-20T15:00:09","slug":"ogdcls-oil-output-rises-by-10000-barrels-thanks-to-single-innovation-minister-looks-rid-of-imf-if-4-more-companies-use-the-schlumbergers-tech","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/ogdcls-oil-output-rises-by-10000-barrels-thanks-to-single-innovation-minister-looks-rid-of-imf-if-4-more-companies-use-the-schlumbergers-tech\/","title":{"rendered":"OGDCL&#8217;s Oil Output rises by 10,000 Barrels Thanks to Single Innovation : Minister Looks Rid of IMF if 4 More Companies Use the Schlumberger&#8217;s Tech"},"content":{"rendered":"<p><em><strong><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-42477\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2025\/02\/OGDCL.jpg\" alt=\"\" width=\"500\" height=\"341\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2025\/02\/OGDCL.jpg 500w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2025\/02\/OGDCL-300x205.jpg 300w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2025\/02\/OGDCL-218x150.jpg 218w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/>ISLAMABAD: 20 Feb 2025 &#8211; Federal Minister for Petroleum Dr. Musadik Malik on Thursday underscored the transformative impact of technological advancements on Pakistan\u2019s energy sector, revealing that a single innovation has led to a 10,000-barrel increase in the Oil and Gas Development Company Limited (OGDCL)\u2019s oil production.<\/strong><\/em><\/p>\n<p>Addressing a celebration event organized by OGDCL and Schlumberger, he said that if four more companies adopt similar technological advancements, Pakistan may no longer require International Monetary Fund (IMF) programs for financial stability.<\/p>\n<p>He further highlighted that $250 million worth of innovation has been introduced in the sector, marking the beginning of a silent revolution driven by cutting-edge technology.<\/p>\n<p><strong>Praising Schlumberger<\/strong> for its exceptional contributions to the energy sector, the minister said that Pakistan is transforming, with key changes being implemented across various industries, including energy.<\/p>\n<p>He outlined three major initiatives in the energy sector: indigenization, electrification, and deregulation. \u201cWe are focusing not only on energy but on broader economic reforms,\u201d he explained.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"1CyVLwXP6N\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/gov-not-renewing-ipps-contracts-russian-cheap-oil-project-was-taken-away-import-from-iran-is-sanctioned-we-are-committed-with-tapi-musaddik\/\">GOV not Renewing  IPPs Contracts- Russian Cheap Oil Project was Taken Away &#8211; Import from Iran is Sanctioned &#8211; We are Committed with TAPI &#8211; Musaddik<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;GOV not Renewing  IPPs Contracts- Russian Cheap Oil Project was Taken Away &#8211; Import from Iran is Sanctioned &#8211; We are Committed with TAPI &#8211; Musaddik&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/gov-not-renewing-ipps-contracts-russian-cheap-oil-project-was-taken-away-import-from-iran-is-sanctioned-we-are-committed-with-tapi-musaddik\/embed\/#?secret=m470InfunD#?secret=1CyVLwXP6N\" data-secret=\"1CyVLwXP6N\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>He elaborated on these initiatives, stating, \u201cIndigenization aims to produce locally what is currently being imported. Electrification involves integrating all energy sources\u2014including renewables, green, blue, and brown energies\u2014into a unified system, aligning with the global shift towards electric power.\u201d<\/p>\n<p>He stressed that the most significant shift is deregulation and the promotion of the private sector. Citing international models, he said that major firms worldwide foster innovation by integrating research, technology, commercialization, and academia.<\/p>\n<p>\u201cWhen this innovation reaches OGDCL, the silent revolution we have been discussing becomes visible,\u201d he added.<\/p>\n<p>The minister highlighted the Prime Minister\u2019s mandate to eliminate unnecessary regulations hindering business and economic activity. \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 added.<\/p>\n<p>He explained that rather than identifying regulations for removal, the approach is to define four essential rules for each economic activity, with all other regulations eliminated. \u201cThis is how deregulation will drive the economy forward,\u201d he said.<\/p>\n<p>The Minister said that <strong>downsizing efforts are underway in the petroleum sector<\/strong> under the Prime Minister\u2019s directives. A special committee is scrutinizing government institutions, assessing their workforce requirements and relevance. \u201cThe government is reviewing its institutions to evaluate their efficiency, with a strong focus on outcomes rather than bureaucratic hierarchies,\u201d he said.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"AB4Kl26REq\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/saudi-fund-for-development-sfd-signs-oil-import-financing-facility-loan-agreement-for-gravity-flow-water-supply-scheme-at-mansehra\/\">Saudi Fund for Development (SFD) Signs Oil Import Financing Facility &#8211; Loan Agreement for Gravity Flow Water Supply Scheme at Mansehra<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Saudi Fund for Development (SFD) Signs Oil Import Financing Facility &#8211; Loan Agreement for Gravity Flow Water Supply Scheme at Mansehra&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/saudi-fund-for-development-sfd-signs-oil-import-financing-facility-loan-agreement-for-gravity-flow-water-supply-scheme-at-mansehra\/embed\/#?secret=0fB3qYAAGD#?secret=AB4Kl26REq\" data-secret=\"AB4Kl26REq\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>He reaffirmed the government\u2019s commitment to prioritizing public welfare, ensuring that all programs serve the interests of citizens rather than bureaucratic structures.<\/p>\n<p><em><strong>Criticizing the Pakistan Tehreek-e-Insaf (PTI) for launching international campaigns against Pakistan,<\/strong> <\/em>he questioned, \u201cWho asks the IMF not to support their own country? Who wants their own nation to go bankrupt? Who launches protest when institutional heads visit abroad ? When you pass resolutions abroad, they do not mention any political party; they target Pakistan itself.\u201d<\/p>\n<p>He strongly condemned actions aimed at destabilizing Pakistan\u2019s economy, warning against moves that could harm the country\u2019s financial stability and international credibility.<\/p>\n<p><strong>Highlighting economic improvements,<\/strong> Dr. Malik stated that inflation has dropped from 40% to 3%, while interest rates have declined from 24%, making borrowing easier for businesses. \u201cWhen interest rates drop, companies can invest, hire more workers, and introduce innovations. This creates jobs for Pakistani engineers and strengthens industries,\u201d he explained.<\/p>\n<p>The minister urged for a constructive national debate centered on economic growth rather than political hostility.<\/p>\n<p>\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 he added.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"It4ie2NTxB\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/pakistan-in-the-world-february-2025\/\">Pakistan in the World \u2013 February 2025<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Pakistan in the World \u2013 February 2025&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/pakistan-in-the-world-february-2025\/embed\/#?secret=c067Vejpml#?secret=It4ie2NTxB\" data-secret=\"It4ie2NTxB\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: 20 Feb 2025 &#8211; Federal Minister for Petroleum Dr. Musadik Malik on Thursday underscored the transformative impact of technological advancements on Pakistan\u2019s energy sector, revealing that a single innovation has led to a 10,000-barrel increase in the Oil and Gas Development Company Limited (OGDCL)\u2019s oil production. Addressing a celebration event organized by OGDCL and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[1606,665,48,668,6787],"_links":{"self":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/42475"}],"collection":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/comments?post=42475"}],"version-history":[{"count":3,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/42475\/revisions"}],"predecessor-version":[{"id":42479,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/42475\/revisions\/42479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media\/42477"}],"wp:attachment":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media?parent=42475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/categories?post=42475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/tags?post=42475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}