SSGC intends to further extract LPG from Bobi field – Alfalah Securities Limited

Karachi, July 04, 2012 (PPI-OT): Sui Southern Gas Company Ltd. (SSGC) has planned to extract residual liquefied petroleum gas (LPG) and natural gas liquids (NGL) from Bobi gas field.

According to Alfalah Securities Limited, the company is reported to have invited tender bids from interested contractors in this regard where according to the company estimates the field can produce around 60 tons of additional LPG per day. Bobi Field is owned and operated by OGDC and is currently producing around 1,540 bpd of oil, 13 mmcfd gas and 47 TPD of LPG. With additional hydrocarbon extraction from the said field would have a positive impact on the profitability of OGDC in near term. Alfalah Securities Limited maintains a HOLD stance on OGDC with Target Price of PKR 190.46.