ISLAMABAD: Oil and Gas Development Company Ltd (OGDCL) discovered new oil and gas reserves in Bulri Shah Karim Tando Muhammad Khan in district Hyderabad.
The discovery by state run enterprise has raised hopes of fresh hydrocarbon openings. The findings of hydrocarbon surfaced through an exploratory well Chhutto-1 while in hopes of further findings, two more wells are to be drilled in the same licence areas, of which one has already been marked for immediate drilling.
OGDCL is a joint venture of Nim Block owning 95 percent share with its remaining five percent shareholding of the federal government through Government Holdings (Pvt) Ltd (GHPL).
Moreover, Chhutto-1 was drilled and tested using OGDCL’s in-house expertise. The well was drilled down to the depth of 3,820 metres.
The well tested 8.66 million standard cubic feet per day (mmscfd) of gas and 285 barrels per day (bpd) of condensate through 32/64-inch choke at wellhead flowing pressure of 2,100 per square inch from “A” sands of the Lower Goru formation.
In a statement, the company said that the discovery was the result of aggressive exploration strategy adopted by the OGDCL.
“It has opened a new avenue and would add to the hydrocarbon reserves base on the OGDCL and the country”, statement added.
The company hit a record production level of 50,172 bpd of oil a few months ago, securing 57pc share in the country’s total production of about 88,000 bpd.
Moreover, Pakistan meets around 12pc of its oil requirement from indigenous resources. Historically, the OGDCL’s production has hovered between 35,000 and 45,000 bpd.