KARACHI: Oil and Gas Development Company Limited (OGDCL) on Tuesday announced a discovery of gas condensate at Sial-1 well located in district Hyderabad, Sindh province.
In an information sent to Pakistan Stock Exchange (PSX) and London Stock Exchange (LSE), the company said that the structure of Sial-1 was drilled and tested using OGDCL in house expertise.
“The well was drilled down to the depth of 2442 meters. Based on logs data, well was tested at rate of 1.146 million standard cubic feet per day (MMSCFD) of gas and 680 barrels per day (BPD) of condensate through 32/64” choke at wellhead flowing pressure around 460 pound per square inch (Psi) from lower Goru Formation.”
The OGDCL is a stakeholder of 95 percent and Government Holdings (Pvt) Limited has 5 percent share at the exploratory well.
The company said that the discovery of Sial-1 is the result of an aggressive exploration strategy adopted by the company. “It has opened a new avenue and would add to the hydrocarbon reserves base of the OGDCL, its joint venture partners and of the country.”
It will also contribute in reducing the supply and demand gap of oil and gas in the country through the exploration and exploitation of indigenous resources, the company added.