In a notice sent to the Pakistan Stock Exchange (PSX) on
Thursday, the company, one of the largest oil and gas exploration companies
in Pakistan, announced, “The Joint Venture of Sinjhoro Block comprising OGDCL
as operator (76%), Orient Petroleum (19%) and Government Holdings (GHPL) (5%)
has discovered oil and gas from an exploratory well namely Kot Nawab-1 which is
located in District Sanghar, Sindh Province”.
The oil and gas exploration company said Kot Nawab-1 was
spudded-in on June 03, 2022 as an exploratory well by using OGDCL's in-house
expertise.
“The
well was drilled down to 3,000 meters. Based on the results of wireline logs
interpretation, Drill Stem Test-1 in the Basal Sand has tested 125 barrels of
oil per day (bopd) and 0.483 million standard cubic feet per day (mmscfd) gas
and 400 barrels of water per day (bwpd) through choke size 28/64 at well head
flowing pressure (whfp) of 150 pounds per square inch (psi),” read the notice.
The
said development is the eleventh discovery in Sinjhoro Block, said OGDCL, which
shows the commitment of Sinjhoro JV to exploit the hydrocarbon (HC) potential
of the block and aggressive exploration strategy.
“It has opened a new avenue and will positively contribute
to mitigating energy demand and supply gap from indigenous resources and will
add to the hydrocarbon reserves base of OGDCL and the country,” said the Company
announcement.
The discovery comes as Pakistan faces an energy crunch, as
its reserves continue to deplete, while the country struggles to obtain fuel
cargoes.
Just days ago, OGDCL had announced the discovery of oil
and gas from its development cum exploratory well namely Chak-5 Dim
South-3, which is also located in District Sanghar, Sindh.
