New gas reserves discovered in Khairpur, Sindh: OGDCL

KARACHI: Oil & Gas Development Company Limited (OGDCL) on Thursday said that more oil and gas reserves have been discovered in Sindh.

In a notice to the Pakistan Stock Exchange (PSX), OGDCL announced the gas/condensate discovery from the exploratory well, Faakir-1, in Khairpur district.

The well is operated by OGDCL, holding a 95% working interest, in joint venture with Government Holdings (Private) Limited (GHPL), which holds the remaining 5% interest.

“Faakir-1 was spudded on December 31, 2024, as an exploratory well and drilled to a total depth of 4,185 meters in the Sembar Formation. The well was drilled using OGDCL’s in-house expertise in close collaboration with the joint venture partner,” OGDCL stated. “Based on the interpretation of wireline log results, two Drill Stem Tests (DSTs) were carried out in the Lower Goru Formation, targeting the massive sand and basal sand intervals”.

“The cumulative test results indicated a production of 6.4 million standard cubic feet of gas per day (MMSCFD) and 55 barrels per day (BPD) of condensate through a 32/64” choke,“ OGDCL noted. “The wellhead flowing pressures recorded were 450 psi for DST-1 and 850 psi for DST-2, respectively”.

OGDCL termed the discovery as a significant breakthrough in the Bitrisim Exploration Licence from Lower Goru Formation, thereby enhancing the commercial prospectivity and extending the life of the licence.

“This discovery is expected to contribute meaningfully toward reducing the energy demand-supply gap through indigenous resources and will also add to the hydrocarbon reserves base of both OGDCL and the country,” it added.