Karachi, April 8, 2025 — Oil and Gas Development Company Limited (OGDCL) has announced a fourth significant gas and condensate discovery in the Waziristan Block, marking a promising development for Pakistan’s energy sector.
In a notification to the Pakistan Stock Exchange (PSX), OGDCL confirmed that the latest discovery was made in the Lockhart Formation at the Spinwam-1 Well. This follows three previous hydrocarbon discoveries in the same well, made in the Samanasuk, Kawagarh, and Hangu formations earlier this year, on February 25, March 18, and April 3, respectively.
OGDCL holds a 35% working interest in the Waziristan Block, alongside joint venture partners Mari Energies Limited, which operates the block with a 55% share, and Orient Petroleum Inc., holding the remaining 10%.
The test results from the Lockhart Formation are encouraging. At a choke size of 64/64”, the well produced 70.3 million standard cubic feet per day (MMSCFD) of gas and 310 barrels per day (bbl/day) of condensate, with a wellhead flowing pressure of 3,264 psig. A second test using a smaller 32/64” choke showed a flow of 29.3 MMSCFD of gas and 166 bbl/day of condensate at a pressure of 4,993 psig.
This fourth discovery completes the testing program for all targeted formations in the Spinwam-1 Well. OGDCL believes these successive discoveries significantly enhance the commercial viability of the Waziristan Block and strengthen Pakistan’s domestic energy portfolio.
OGDCL’s consistent exploration success in this region is a testament to its technical expertise and strategic partnerships. The company remains committed to enhancing national energy security by unlocking new reserves and optimizing existing assets.
As part of regulatory compliance, this update was submitted under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations.
With this latest find, OGDCL continues to solidify its position as Pakistan’s leading exploration and production company. The organization is expected to accelerate development plans for the Waziristan Block, ensuring timely monetization of these valuable resources.