Karachi, January 20, 2026 – Oil and Gas Development Company Limited (OGDCL) has confirmed a significant oil and gas discovery in Pakistan’s Khyber Pakhtunkhwa province, marking a major boost to the country’s indigenous energy resources.
According to a notice submitted to the Pakistan Stock Exchange (PSX), OGDCL, as the operator of the Nashpa Exploration License with a 65% working interest, in partnership with Pakistan Petroleum Limited (PPL) 30% and Government Holdings (Private) Limited (GHPL) 5% carried interest, successfully discovered hydrocarbons in the Samana Suk and Shinawari formations at the exploratory Baragzai X-01 (Slant) well, located in District Kohat.
During Cased Hole Drill Stem Test (CHDST-03), the well produced 3,100 barrels of oil per day (BOPD) and 8.15 million standard cubic feet per day (MMSCFD) of gas, through a 32/64″ choke size, at a wellhead flowing pressure of 3,010 psig.
The Baragzai X-01 (Slant) well was spud-in on December 30, 2024, targeting multiple formations including Lockhart, Hangu, Lumshiwal, Samana Suk, Shinawari, Datta, and Kingriali. The well reached a total depth of 5,170 meters, with earlier drill stem tests in Kingriali and Datta formations also resulting in oil and gas discoveries.
This latest discovery is expected to strengthen Pakistan’s energy security, help bridge the supply-demand gap, and augment OGDCL’s hydrocarbon reserves, benefiting both its joint venture partners and the nation’s economy.
The announcement has been made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring timely dissemination to investors and stakeholders.