KARACHI: The Oil and Gas Development Company Limited (OGDCL) has discovered oil and gas reserves from an exploratory well in district Sanghar, Sindh, a statement said on Monday.
In a notice to the Pakistan Stock Exchange (PSX), the country’s largest oil and gas exploration company announced the discovery of reserves in an exploratory located in Sanghar. “As operator with 100 percent working interest, [OGDCL] has discovered oil and gas from development cum exploratory well namely Chak-5 Dim South-3, which is located in District Sanghar, Sindh Province,” the statement to the PSX read.
The company said the Chak-5 Dim South-3 was spudded in on June 26, 2022 as development cum exploratory well by using OGDCL's in-house expertise. “The well was drilled down to 3,400 meters, based on the results of wireline logs interpretation, Drill Stem Test-1 in the massive sand has tested 2,000 Barrels of Oil per Day (BOPD) and 1.30 million standard cubic feet per day (mmscfd) gas through choke size 32/64" at Well Head Flowing Pressure (WHFP) of 994 pounds per square inch (Psi),” said OGDCL.
The company added that the discovery showed its aggressive exploratory strategy as it had opened a new avenue and would contribute to mitigating energy demand and supply gap from indigenous resources. “It will add to the hydrocarbon reserves base of OGDCL and the country,” the company said.
Earlier in June, the company discovered gas at an exploratory well named Umair South East 01 located in Ghotki, Sindh. It’s a joint venture and the OGDCL is a 70 percent operating partner in it. Other stakeholders include SPUD Energy PTY Limited (13.5 percent), IPR Transoil Corporation (11.5 percent) and Government Holdings (Private) Limited (5 percent).
In Punjab, OGDCL discovered oil gas reserves in October, 2022, from an exploratory well named Toot Deep-1 Well, located in Attock district of Punjab, with a rate of 882 barrels per day (bpd) and 0.93 million standard cubic feet per day (mmscfd) gas. The discovery extended hydrocarbon play area in the Pothohar basin, the company said, adding that it had adopted aggressive exploration strategies resulting in hydrocarbon discoveries. The company also discovered huge oil and gas reserves in Khyber Pakhtunkhwa (KP) in January, 2022, in the Wali block near Lakki Marwat in KP. The OGDC is a public limited company engaged in exploration and production activities in the country for over last five decades.