Oil & Gas Development Company Limited (OGDCL), a state-owned exploration and production company, has discovered gas and condensate in Sindh.
The company shared this development with the Pakistan Stock Exchange (PSX) through a notice that the discovery was made at Dars West Well 02, located in Tando Allahyar District of Sindh. The well was drilled and tested by the company’s experts, showing promising results.
The well has tested 8.51 million standard cubic feet per day (mmscfd) gas and 360 barrels per day (bpd) condensate from the lower Goru formation.
The well is part of the joint venture of Dars West Development and Production Lease (D&PL), which includes OGDCL as an operator (77.5 %) and Government Holdings (Private) Limited (GHPL) (22.5 % carried).
The company said that the discovery would add to the hydrocarbon reserves base of the OGDCL, joint venture partners and of the country. It also said that it was the result of its aggressive exploration strategy.
Last month, OGDCL completed the Khewari Project in Sindh, with a potential gas production of 10 mmscfd.
The company also registered net sales of Rs 120.141 billion and profit before taxation of Rs 86.174 billion during the first quarter of the fiscal year 2024.
