Karachi, August 6, 2024 – The Oil and Gas Development Company Limited (OGDCL), a prominent player in Pakistan’s energy sector, has announced a significant new gas discovery in the country.
The company shared the news on Tuesday with the Pakistan Stock Exchange (PSX), marking an important development for the nation’s energy landscape.
OGDCL’s announcement highlights the discovery of gas condensate from the Kawagarh-I formation, located in the Razgir-I Exploratory well in Kohat district, Khyber Pakhtunkhwa Province. This new find represents a major boost for Pakistan’s energy sector, providing fresh prospects for the country’s hydrocarbon production.
The exploration was conducted by the TAL Joint Venture, a consortium of key industry players. OGDCL holds a 30% stake in this venture, while MOL Pakistan Oil and Gas Co. B.V. operates with a 10% share. Other partners include Pakistan Petroleum Limited (PPL) with a 30% interest, Pakistan Oil Field Limited (POL) owning 25%, and Government Holdings Private Limited (GHPL) with a 5% stake.
The Razgir-I well was spudded-in on January 9, 2024, and has been drilled to a depth of 3,773.98 meters. The findings from the wireline logs indicate that the Kawagarh-I Formation was successfully tested, yielding approximately 16.4 Million Standard Cubic Feet per Day (MMSCFD) of gas and 159 Barrels per Day (BPD) of condensate. The test was conducted with a choke size of 40/64 inches and a Wellhead Flowing Pressure (WHFP) of 1,874 Pounds per Square Inch (Psi).
OGDCL’s statement emphasized that this discovery is expected to mitigate risks associated with further exploration in the TAL Block. It is anticipated to unlock new opportunities for development and production, thereby enhancing the potential of the area. Furthermore, the company highlighted that this find will contribute significantly to increasing the supply of indigenous hydrocarbons, which is crucial for the country’s energy security and self-sufficiency.
The announcement of this gas discovery is seen as a positive development for Pakistan’s energy sector. It not only promises to boost local energy resources but also strengthens the country’s energy security by reducing dependence on imported fuels. As exploration and development continue, this discovery is expected to play a key role in meeting Pakistan’s growing energy demands.
