Karachi, February 19, 2024 – The Oil and Gas Development Company Limited (OGDCL) made a groundbreaking announcement on Monday, revealing the discovery of vast gas reserves in the Khairpur District of Sindh Province.
The significant find, unveiled through the exploration efforts at Kharo-1, marks a crucial milestone in the company’s endeavors to expand its hydrocarbon reserves.
The news of the discovery was promptly shared with the Pakistan Stock Exchange (PSX), providing investors and stakeholders with a glimpse into the promising developments in the energy sector. OGDCL, operating with a 95 percent working interest in the Khewari Block, disclosed that the successful exploration activities took place in the Khewari exploration license area, situated in District Khairpur, Sindh Province. Government Holdings Private Limited (GHPL) is a joint venture partner, holding a 5 percent working interest in the Khewari Block.
The drilling and testing operations at the Kharo-1 well structure, executed with OGDCL’s proprietary expertise, reached an impressive depth of 3,672 meters. Subsequent testing revealed the production of 14.3 million standard cubic feet per day (MMSCFD) of gas and 93 barrels per day (bbls/d) of condensate. These remarkable results were achieved at a 32/64-inch choke size, under a wellhead flowing pressure (WHFP) of 2,737 pounds per square inch (psi), emanating from the Massive sand strata of the Lower Goru Formation.
The successful exploration at Kharo-1 underscores OGDCL’s strategic and meticulous approach to uncovering valuable energy resources. The discovery not only holds the potential to significantly boost OGDCL’s hydrocarbon reserves but also stands as a noteworthy contribution to the national energy resources of Pakistan.
The newfound gas reserves are expected to play a crucial role in meeting the growing energy demands of the country, enhancing energy security, and reducing dependency on imports. This discovery aligns with the broader national objective of achieving self-sufficiency in energy production and reducing the trade deficit associated with energy imports.
The positive outcome at Kharo-1 is a testament to the technical capabilities and commitment of OGDCL and its joint venture partners. As the energy landscape evolves, discoveries of this magnitude contribute to strengthening Pakistan’s position as a regional player in the energy sector. The company’s successful exploration efforts not only bode well for its shareholders but also have wider implications for the economic development and energy sustainability of the nation.
OGDCL’s discovery of substantial gas reserves in Khairpur, Sindh, is a game-changer for the energy sector in Pakistan. The company’s strategic investments in exploration and production are proving fruitful, and the newfound reserves have the potential to make a lasting impact on the country’s energy landscape. As the industry awaits further developments, this discovery stands as a beacon of progress and a testament to the continued efforts to harness and leverage Pakistan’s natural resources for the benefit of the nation.
