“Despite holding the largest exploration area and largest recoverable hydrocarbon reserves, the exploration activities and operational performance of the Oil and Gas Development Company Limited (OGDCL) remained unsatisfactory,” said an audit report on accounts of public sector enterprises for 2013-14.
It further said the OGDCL did not maintain or continue its aggressive exploration programme and strategies of exploiting exploration opportunities in subsequent years.
Despite having latest data acquisition technologies equipped with on-site data facilities and latest quality control software, it failed to hit its targets.
During 2008-09, the company spudded 30 wells against the target of 32 and thus 94 per cent of the target was achieved. However, in subsequent years other than 2012-13, the performance of the company remained unsatisfactory.