Latest news with #GHPL
Business Recorder
01-08-2025
- Business
- Business Recorder
OGDCL announces oil discovery in Sindh
Oil & Gas Development Company Limited (OGDCL) made an oil discovery at the exploratory well Chakar–1, located in District Tando Allah Yar, Sindh. It made the announcement in a notice to the Pakistan Stock Exchange (PSX) today. The discovery was made along with its joint venture partner Government Holdings (Private) Limited (GHPL) with 5% carried interest, the notice said. OGDCL discovers hydrocarbon reserves in Sindh 'Chakar–1 was spudded on June 02, 2025, as an exploratory well under the Tando Allah Yar Exploration License and drilled down to a total depth of 1,926 meters into the Upper Shale of the Lower Goru Formation,' the notice read. Based on the interpretation of wireline logs and Reservoir Evaluation Services (RES) log, Drill Stem Test (DST) was carried out in the B-Sand, followed by testing with an Electrical Submersible Pump (ESP), said OGDCL. It added that the well flowed 275 barrels of oil per day (BOPD) through a 32/64' choke at a wellhead flowing pressure (WHFP) of 400 psi. 'Furthermore, during formation testing using RES, oil was encountered in the Lower Ranikot formation. A second DST/ESP is now being conducted to further assess its hydrocarbon potential.' The listed company shared that this marks the 13th discovery in the TAY E.L and reflects the joint venture's sustained efforts to assess and unlock the hydrocarbon potential of the block. 'The results to date reinforce confidence in the geological prospectivity of the area and support ongoing exploration and appraisal efforts to further delineate its resource base.' On June 12, the OGDCL along with its partner Government Holdings (Private) Limited (GHPL), successfully discovered natural gas and condensate reserves at an exploratory well named Faakir-1, located in Khairpur district, Sindh. Last year, OGDCL discovered natural gas reserves at Shahu-1 well located in the district of Khairpur, Sindh.
Business Recorder
12-06-2025
- Business
- Business Recorder
OGDCL finds significant gas reserves in Sindh
Oil & Gas Development Company Limited (OGDCL), along with its partner Government Holdings (Private) Limited (GHPL), has successfully discovered natural gas and condensate reserves at an exploratory well named Faakir-1, located in Khairpur district, Sindh. OGDCL, one of Pakistan's largest E&P companies, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. 'We are pleased to announce a gas and condensate discovery from the exploratory well Faakir-1, located within Bitrisim Exploration Licence in Khairpur district, Sindh,' read the notice. The well is operated by OGDCL, holding a 95% working interest, in joint venture with 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,' stated OGDCL. The listed company shared that 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,' it shared. The company was of the view that the said discovery marks 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. Last year, OGDCL discovered natural gas reserves at Shahu-1 well located in the district of Khairpur, Sindh.
