ISLAMABAD: September 01, 2026: Oil and Gas Development Company Limited (OGDC) has signed a contract with US energy technology company Baker Hughes to deploy Mature Assets Solutions aimed at revitalising ageing oil and gas wells and increasing Pakistan’s indigenous hydrocarbon production.
The contract was signed at OGDC Headquarters in Islamabad as part of the company’s broader Production Optimisation Drive to maximise output from its existing portfolio of mature oil and gas assets.
Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad and US Chargé d’Affaires Natalie A. Baker attended the signing ceremony as chief guests. OGDC Managing Director and CEO Ahmed Hayat Lak, along with senior officials from OGDC and Baker Hughes, were also present.
Under the agreement, Baker Hughes will deploy its technical expertise, advanced technologies and integrated capabilities to help OGDC identify additional production opportunities and address operational challenges across its mature assets.
Mature Assets Solutions are designed to help operators unlock additional value from established oil and gas fields where production has naturally declined over time.
The partnership is aimed at improving recovery from existing wells and fields rather than relying solely on new discoveries to increase domestic hydrocarbon production.
Speaking at the ceremony, OGDC MD and CEO Ahmed Hayat Lak said the company was pursuing meaningful engagements with world-class service providers to optimise its oil and gas production and strengthen Pakistan’s energy security.
He expressed confidence that the project would be implemented efficiently and help revitalise OGDC’s mature assets.
Special Secretary Petroleum Mirza Nasiruddin Mashood Ahmad said the partnership would contribute to Pakistan’s energy security by supporting efforts to maximise indigenous oil and gas production.
US Chargé d’Affaires Natalie A. Baker described the agreement as a milestone in the US-Pakistan energy partnership, saying energy was a foundation of economic security.
She said collaboration between OGDC and Baker Hughes would advance the shared objective of strengthening Pakistan’s energy security.
Baker Hughes Global Director Mature Asset Solutions Tarik Abdelfatah said the collaboration reflected shared objectives between the two companies and would provide an opportunity to explore new technology applications in Pakistan.
OGDC currently has 18 major mature assets, comprising 12 oil fields and six gas and condensate fields.
The company currently produces more than 40,000 barrels of crude oil per day, along with around 815 million standard cubic feet of natural gas per day.
Its current production portfolio also includes around 780 metric tonnes of LPG per day and 80 metric tonnes of sulphur per day.
The deployment of mature-asset technologies is expected to focus on identifying opportunities to improve production and recovery from these established fields as they experience natural declines.
For Pakistan, efforts to increase output from existing domestic fields carry particular significance as higher indigenous production can help reduce dependence on imported oil and gas and strengthen the country’s energy security.
The agreement therefore represents a strategic step by OGDC to maximise recovery from its existing asset base while leveraging international technology and expertise to support domestic hydrocarbon production.