Oil and Gas Development Company (OGDC) has discovered hydrocarbon reserves in exploratory well Pasakhi deep well-4 in Hyderabad district, some 200 kilometers from mega city Karachi. The oil and gas giant has 100 per cent working interest in Pasakhi lease.
“The structure of Pasakhi deep well-4 was delineated, drilled and tested using OGDC’s in-house expertise. The well was drilled down to the depth of 3,460 meters, targeting to test the hydrocarbon potential of massive sands of lower Goru formation where the Company hit on the hydrocarbon reserves.
According to the information made public by OGDC the zone had been tested with 14.015 mmscfd of gas and 125bpd of condensate at 36/64inch choke size.
“This discovery of hydrocarbon in Pasakhi deep well No 4 will add to the total hydrocarbon reserves base of OGDC.
Analyst Mohammad Affan Ismail at a local brokerage house, BMA Capital commented that the discovery, which stands at 14.02mmcfd of gas and 125bpd of oil would slightly impact the Company’s annualised earnings.
According to Pakistan Petroleum Information Service (PPIS), the E&P giant ‑ OGDC ‑ is further pursuing exploratory drilling of seven more wells (four wells were near completion) mainly in gas rich Sindh and Balochistan regions.