Karachi, January 1, 2026 – The Oil and Gas Development Company Limited (OGDCL) has announced a significant oil and gas discovery in District Kohat, Khyber Pakhtunkhwa (KPK), strengthening Pakistan’s domestic energy resource base.
In a notification submitted to the Pakistan Stock Exchange (PSX) on Thursday, OGDCL stated that the discovery was made at its exploratory well Baragzai X-01 (Slant) under the Nashpa Exploration License, where the company holds a 65 percent working interest. The joint venture also includes Pakistan Petroleum Limited (PPL) with a 30 percent stake and Government Holdings (Private) Limited (GHPL) with a 5 percent carried interest.
The discovery was made in the Datta Formation (Jurassic age) following a successful cased-hole Drill Stem Test (DST-02). During testing, the well produced 4,100 barrels of oil per day (BOPD) and 10.5 million standard cubic feet per day (MMSCFD) of gas at a 32/64-inch choke size, with a wellhead flowing pressure of 3,880 psig.
The Baragzai X-01 (Slant) well was spudded on December 30, 2024 and drilled to a total depth of 5,170 meters into the Kingriali Formation. Approximately 187 meters of Datta Formation was encountered. Based on strong hydrocarbon indications, open-hole wireline log interpretation, petrophysical evaluation, and fracture evidence from image logs, the cased-hole test was conducted.
Earlier, successful testing in the Kingriali Formation (Triassic age) under CHDST-01 had also confirmed a discovery at the same well.
OGDCL said the new oil and gas discovery will help reduce Pakistan’s energy supply-demand gap, enhance reliance on indigenous energy resources, and add to the hydrocarbon reserves of OGDCL, its joint venture partners, and the country.
The disclosure has been made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations for dissemination among market participants.