Chairman of the Board of the Oil and Gas Development Company (OGDCL), Zafar Masud, praised Ahmed Hayat Lak, Managing Director and CEO, for his exceptional work. Masud emphasized that OGDCL has significantly improved its operations since Lak took over as leader. He credited the threefold approach—transparency, indigenization, and production optimization—for these successes.
“We’ve ensured transparency in policies, procedures, and governance to eliminate operational loopholes,” Masud stated. He was especially grateful for Lak’s contribution to spearheading production optimization initiatives in all of OGDCL’s current fields.
“Under Lak’s leadership, we’ve seen a substantial increase in production, driven by our strategy of indigenization,” Masud stated. Utilizing indigenous resources and knowledge is referred to as “indigenization.”
Masud expressed hope regarding future output growth at OGDCL. His confidence stemmed from constant efforts and strategic initiatives guided by Lak.
Masud stressed the significance of accurately evaluating current fields in order to boost oil and gas output even more. This evaluation would pinpoint obstacles and ascertain the requirements for technology, infrastructure, and security.
The OGDCL Chairman concluded by highlighting the vital necessity of an impartial, well-trained regulator for Pakistan’s oil and gas industry. He pointed out that one of the biggest obstacles to the sector’s development is the lack of such a regulator.
